Maridea Wealth Management LLC Makes New $1.65 Million Investment in Coinbase Global, Inc. $COIN

Maridea Wealth Management LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 4,703 shares of the cryptocurrency exchange’s stock, valued at approximately $1,648,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $37,000. Bessemer Group Inc. raised its stake in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 0.5%

Shares of COIN stock opened at $321.77 on Thursday. The firm has a 50 day moving average price of $332.53 and a two-hundred day moving average price of $273.28. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $82.68 billion, a PE ratio of 31.12 and a beta of 3.68. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month 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 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $0.14 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $322.28, for a total value of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $169,519.28. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the sale, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 749,515 shares of company stock valued at $283,990,425 in the last quarter. Corporate insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COIN shares. Sanford C. Bernstein lifted their price target on Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Compass Point restated a “sell” rating and issued a $248.00 price objective (down previously from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Citigroup raised their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Mizuho set a $300.00 price objective on Coinbase Global in a report on Thursday, September 18th. Finally, Erste Group Bank began coverage on Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $356.18.

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.