3,796 Shares in Coinbase Global, Inc. $COIN Bought by Kovack Advisors Inc.

Kovack Advisors Inc. purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,796 shares of the cryptocurrency exchange’s stock, valued at approximately $1,330,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after buying an additional 84 shares in the last quarter. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares in the last quarter. Amalgamated Bank boosted its stake in Coinbase Global by 4.8% in the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after buying an additional 629 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Coinbase Global by 45.1% in the first quarter. Vontobel Holding Ltd. now owns 25,065 shares of the cryptocurrency exchange’s stock valued at $4,317,000 after buying an additional 7,791 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Coinbase Global by 7.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,406 shares of the cryptocurrency exchange’s stock valued at $3,342,000 after buying an additional 1,292 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 205,657 shares of company stock valued at $67,479,576 over the last ninety days. 17.65% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $343.78 on Friday. The business’s 50-day moving average price is $333.43 and its 200-day moving average price is $305.57. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $88.33 billion, a price-to-earnings ratio of 29.74 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 17.52% and a net margin of 41.99%.The firm’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. UBS Group set a $404.00 price objective on Coinbase Global in a research note on Friday, October 24th. Argus assumed coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, Williams Trading set a $405.00 price target on Coinbase Global in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $398.58.

Coinbase Global Company 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.