Private Advisor Group LLC Has $4 Million Stake in Coinbase Global, Inc. $COIN

Private Advisor Group LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.4% during the first quarter, Holdings Channel reports. The fund owned 22,937 shares of the cryptocurrency exchange’s stock after selling 4,826 shares during the quarter. Private Advisor Group LLC’s holdings in Coinbase Global were worth $4,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Palisade Asset Management LLC bought a new stake in Coinbase Global in the third quarter valued at $29,000. MV Capital Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $30,000. JPL Wealth Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at about $49,000. Finally, Brooklands Fund Management Ltd acquired a new position in Coinbase Global during the 4th quarter worth approximately $34,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

COIN stock opened at $159.36 on Thursday. The company has a market capitalization of $41.98 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 5.77 and a beta of 3.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global, Inc. has a 52-week low of $139.18 and a 52-week high of $444.64. The business has a 50-day simple moving average of $175.05 and a two-hundred day simple moving average of $190.72.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. Research analysts expect that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Coinbase Global News Summary

Here are the key news stories impacting Coinbase Global this week:

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 2,051 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,647 shares of company stock valued at $7,331,841 over the last 90 days. Corporate insiders own 16.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on COIN shares. JPMorgan Chase & Co. increased their price target on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Rothschild & Co Redburn upped their target price on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. KeyCorp reissued a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Citizens Jmp reduced their price target on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $250.65.

Check Out Our Latest Stock Analysis on Coinbase Global

Coinbase Global Profile

(Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

See Also

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINFree Report).

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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