UMB Bank n.a. Raises Stock Position in Coinbase Global, Inc. $COIN

UMB Bank n.a. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5,425.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 221 shares of the cryptocurrency exchange’s stock after purchasing an additional 217 shares during the quarter. UMB Bank n.a.’s holdings in Coinbase Global were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake 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 worth $8,861,000 after purchasing an additional 9,952 shares during the last quarter. Amalgamated Bank raised its stake in shares of Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after acquiring an additional 629 shares in the last quarter. Kera Capital Partners Inc. raised its stake in Coinbase Global by 3.0% in the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after buying an additional 1,085 shares in the last quarter. Parallel Advisors LLC raised its stake in Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after buying an additional 5,402 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after buying an additional 84 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total transaction of $3,045,200.00. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at approximately $25,070,522.56. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares of the company’s stock, valued at $148,834.86. This represents a 92.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 749,515 shares of company stock worth $283,990,425. Company insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several analyst reports. Argus assumed coverage on shares of Coinbase Global in a report on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. Wall Street Zen upgraded Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. William Blair began coverage on Coinbase Global in a report on Wednesday, June 11th. They issued an “outperform” rating on the stock. Keefe, Bruyette & Woods lowered their target price on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $356.18.

Coinbase Global Trading Down 4.7%

Shares of Coinbase Global stock opened at $306.69 on Friday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock has a market cap of $78.80 billion, a PE ratio of 29.66 and a beta of 3.68. The company has a 50-day moving average of $330.45 and a two-hundred day moving average of $274.16.

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

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.