3,740 Shares in Coinbase Global, Inc. $COIN Acquired by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,740 shares of the cryptocurrency exchange’s stock, valued at approximately $1,311,000.

Several other large investors have also recently modified their holdings of COIN. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the 2nd quarter valued at about $30,000. City State Bank purchased a new position in Coinbase Global in the second quarter worth about $33,000. North Star Investment Management Corp. bought a new position in shares of Coinbase Global in the second quarter worth approximately $55,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Coinbase Global during the first quarter valued at approximately $30,000. Finally, S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Cantor Fitzgerald lowered their price target on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a report on Friday. Barclays reduced their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho upped their target price on shares of Coinbase Global from $300.00 to $320.00 in a research note on Friday. Finally, Compass Point dropped their price target on shares of Coinbase Global from $277.00 to $266.00 in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.91.

Coinbase Global Trading Up 4.6%

Shares of Coinbase Global stock opened at $343.78 on Monday. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company’s fifty day simple moving average is $333.43 and its 200-day simple moving average is $307.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a market capitalization of $88.33 billion, a PE ratio of 29.74 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last announced its earnings results 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 analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.Coinbase Global’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the sale, 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 sold 180,657 shares of company stock valued at $59,552,326 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

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.