Bill Few Associates Inc. Makes New $234,000 Investment in Coinbase Global, Inc. $COIN

Bill Few Associates Inc. bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 669 shares of the cryptocurrency exchange’s stock, valued at approximately $234,000.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after purchasing an additional 9,952 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after purchasing an additional 629 shares during the last quarter. Kera Capital Partners Inc. lifted its stake in shares of Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after purchasing an additional 84 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 198,300 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $209,279.62. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 556,321 shares of company stock valued at $208,110,150. Company insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on COIN shares. Redburn Partners set a $417.00 price objective on Coinbase Global in a research note on Friday, October 3rd. Canaccord Genuity Group restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Argus began coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target for the company. Finally, Compass Point reiterated a “sell” rating and issued a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $367.12.

Coinbase Global Stock Down 7.7%

Shares of COIN stock opened at $357.01 on Monday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a market capitalization of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The stock’s 50-day simple moving average is $325.06 and its 200-day simple moving average is $288.49.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.