Leavell Investment Management Inc. Buys Shares of 651 Coinbase Global, Inc. $COIN

Leavell Investment Management Inc. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 651 shares of the cryptocurrency exchange’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently modified their holdings of COIN. Bessemer Group Inc. grew its holdings in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Coinbase Global during the first quarter worth about $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global during the second quarter worth about $30,000. S Bank Fund Management Ltd purchased a new position in shares of Coinbase Global during the first quarter worth about $31,000. Finally, SouthState Corp grew its holdings in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $361.43 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The stock has a 50 day moving average price of $330.44 and a two-hundred day moving average price of $301.73. The company has a market capitalization of $92.87 billion, a P/E ratio of 34.95 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last announced 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 net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COIN. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $325.00 to $417.00 in a report on Friday, October 3rd. Rosenblatt Securities reissued a “buy” rating and set a $470.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Monness Crespi & Hardt lowered Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Finally, Needham & Company LLC upped their target price on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $384.12.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total value of $1,515,404.00. Following the completion of the sale, the chief financial officer owned 84,820 shares of the company’s stock, valued at $29,212,856.20. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,657 shares of company stock worth $67,479,576. 23.43% of the stock is currently owned by insiders.

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.