Fidelis Capital Partners LLC Acquires Shares of 714 Coinbase Global, Inc. $COIN

Fidelis Capital Partners LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 714 shares of the cryptocurrency exchange’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently made changes to their positions in COIN. Envestnet Asset Management Inc. raised its holdings in Coinbase Global by 24.0% in the first 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 in the last quarter. Allworth Financial LP increased its position in shares of Coinbase Global by 6.5% in the 1st quarter. Allworth Financial LP now owns 2,413 shares of the cryptocurrency exchange’s stock worth $416,000 after purchasing an additional 148 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of Coinbase Global in the 1st quarter valued at about $327,000. Cerity Partners LLC lifted its position in shares of Coinbase Global by 14.7% during the first quarter. Cerity Partners LLC now owns 16,292 shares of the cryptocurrency exchange’s stock worth $2,806,000 after purchasing an additional 2,088 shares during the last quarter. Finally, CWM LLC grew its stake in Coinbase Global by 14.1% in the first quarter. CWM LLC now owns 6,439 shares of the cryptocurrency exchange’s stock worth $1,109,000 after purchasing an additional 795 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on COIN shares. B. Riley upped their price objective on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday, October 31st. Oppenheimer restated an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. President Capital boosted their target price on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus target price of $399.94.

Coinbase Global Stock Performance

COIN stock opened at $304.01 on Wednesday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The stock’s fifty day moving average is $334.21 and its two-hundred day moving average is $313.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This represents a 10.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $337.49, for a total value of $8,437,250.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $177,519.74. The trade was a 97.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 487,658 shares of company stock valued at $154,461,520 in the last ninety days. Insiders own 23.43% of the company’s stock.

About Coinbase Global

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.