Armstrong Fleming & Moore Inc Invests $329,000 in Coinbase Global, Inc. $COIN

Armstrong Fleming & Moore Inc acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 938 shares of the cryptocurrency exchange’s stock, valued at approximately $329,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new position in Coinbase Global during the 1st quarter valued at about $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global during the 1st quarter valued at about $31,000. SouthState Corp lifted its holdings in Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Finally, NBT Bank N A NY bought a new position in Coinbase Global during the 1st quarter valued at about $33,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Up 3.1%

Shares of NASDAQ:COIN opened at $387.27 on Thursday. The stock has a market cap of $99.51 billion, a price-to-earnings ratio of 37.45 and a beta of 3.68. The company has a 50 day moving average of $324.03 and a 200-day moving average of $284.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COIN shares. Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Compass Point reissued a “sell” rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Oppenheimer restated an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lowered their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Finally, Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $325.00 to $417.00 in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $367.12.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 198,300 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 749,515 shares of company stock worth $284,392,325. Insiders own 17.65% of the company’s stock.

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.