Realta Investment Advisors Acquires 267 Shares of Coinbase Global, Inc. $COIN

Realta Investment Advisors raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,619 shares of the cryptocurrency exchange’s stock after buying an additional 267 shares during the period. Coinbase Global comprises 0.9% of Realta Investment Advisors’ portfolio, making the stock its 24th largest holding. Realta Investment Advisors’ holdings in Coinbase Global were worth $2,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Bessemer Group Inc. raised its holdings in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the period. North Star Investment Management Corp. purchased a new stake in Coinbase Global in the second quarter worth about $55,000. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global in the first quarter worth about $30,000. S Bank Fund Management Ltd bought a new position in shares of Coinbase Global in the first quarter worth about $31,000. Finally, Ameriflex Group Inc. lifted its position in shares of Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $380.02 on Friday. The business’s 50 day moving average price is $323.62 and its 200-day moving average price is $281.47. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a market cap of $97.64 billion, a P/E ratio of 36.75 and a beta of 3.68. 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 (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS 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 analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 15,439 shares of the company’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 transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at approximately $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 714,515 shares of company stock valued at $272,046,775. 17.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on COIN. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $325.00 to $417.00 in a research note on Friday. Erste Group Bank began coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They set a “buy” rating on the stock. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Finally, Williams Trading set a $405.00 price target on Coinbase Global in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $367.27.

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.