Coinbase Global, Inc. $COIN Shares Acquired by Montag A & Associates Inc.

Montag A & Associates Inc. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3,129.6% in the second quarter, Holdings Channel.com reports. The firm owned 2,293 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,222 shares during the period. Montag A & Associates Inc.’s holdings in Coinbase Global were worth $804,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased 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 valued at $8,861,000 after acquiring an additional 9,952 shares during the last quarter. Bessemer Group Inc. grew its holdings in Coinbase Global by 672.2% in the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after purchasing an additional 1,015 shares during the period. SP Asset Management LLC acquired a new position in Coinbase Global during the second quarter worth approximately $360,000. Kera Capital Partners Inc. increased its position in Coinbase Global by 3.0% during the second 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. Finally, Parallel Advisors LLC raised its stake in Coinbase Global by 102.6% during the second 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 period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Coinbase Global stock opened at $304.01 on Wednesday. The firm has a market capitalization of $81.97 billion, a PE ratio of 26.30 and a beta of 3.67. The stock’s 50 day moving average price is $334.21 and its 200 day moving average price is $313.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s quarterly revenue was up 55.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 19,927 shares of Coinbase Global stock in a transaction on Friday, November 7th. The shares were sold at an average price of $288.77, for a total value of $5,754,319.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $301.46, for a total transaction of $3,014,600.00. Following the transaction, the director directly owned 204,973 shares of the company’s stock, valued at approximately $61,791,160.58. This represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 487,658 shares of company stock valued at $154,461,520. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on COIN shares. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday. The Goldman Sachs Group reduced their target price on Coinbase Global from $385.00 to $368.00 in a report on Friday, October 31st. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. President Capital raised their price objective on Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Barclays reduced their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $399.94.

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.