Fielder Capital Group LLC Makes New $212,000 Investment in Coinbase Global, Inc. $COIN

Fielder Capital Group LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, Holdings Channel reports. The institutional investor purchased 604 shares of the cryptocurrency exchange’s stock, valued at approximately $212,000.

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

Coinbase Global Trading Up 9.8%

Shares of Coinbase Global stock opened at $354.46 on Friday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The firm has a market capitalization of $91.07 billion, a PE ratio of 34.28 and a beta of 3.68. The company’s fifty day moving average price is $329.63 and its two-hundred day moving average price is $299.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share 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 for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business posted $0.14 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,657 shares of company stock worth $67,479,576. 17.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Needham & Company LLC raised their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, August 1st. JMP Securities upped their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Monday, July 14th. Jefferies Financial Group raised their price objective on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.12.

About Coinbase Global

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.