Atria Investments Inc Purchases Shares of 3,243 Coinbase Global, Inc. $COIN

Atria Investments Inc acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, HoldingsChannel reports. The institutional investor acquired 3,243 shares of the cryptocurrency exchange’s stock, valued at approximately $1,137,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. ARK Investment Management LLC increased its position in Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after buying an additional 34,462 shares during the period. Groupama Asset Managment lifted its holdings in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi boosted its position in shares of Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after acquiring an additional 481,786 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after acquiring an additional 7,675 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on COIN shares. The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $385.00 to $368.00 in a research note on Friday, October 31st. Cantor Fitzgerald dropped their price target on shares of Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a research report on Tuesday, October 14th. President Capital raised their price objective on Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Williams Trading set a $405.00 target price on Coinbase Global in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $397.36.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 15,439 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at approximately $186,977.22. The trade was a 97.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 205,657 shares of company stock valued at $67,989,576. 17.65% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Down 7.5%

NASDAQ COIN opened at $295.22 on Friday. The business has a fifty day moving average price of $333.84 and a two-hundred day moving average price of $309.42. The stock has a market capitalization of $75.85 billion, a PE ratio of 25.54 and a beta of 3.67. 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 debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. Coinbase Global’s revenue was up 55.1% on a year-over-year basis. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.