Paragon Capital Management Ltd Sells 17,054 Shares of Coinbase Global, Inc. $COIN

Paragon Capital Management Ltd lessened its position in Coinbase Global, Inc. (NASDAQ:COIN) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,983 shares of the cryptocurrency exchange’s stock after selling 17,054 shares during the quarter. Coinbase Global makes up about 10.0% of Paragon Capital Management Ltd’s portfolio, making the stock its 2nd biggest position. Paragon Capital Management Ltd owned about 0.06% of Coinbase Global worth $54,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COIN. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $25,000. First Hawaiian Bank raised its position in Coinbase Global by 27.4% in the 1st quarter. First Hawaiian Bank now owns 1,675 shares of the cryptocurrency exchange’s stock valued at $288,000 after buying an additional 360 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Coinbase Global in the 1st quarter valued at approximately $95,000. AdvisorNet Financial Inc raised its position in Coinbase Global by 5.5% in the 1st quarter. AdvisorNet Financial Inc now owns 3,661 shares of the cryptocurrency exchange’s stock valued at $631,000 after buying an additional 192 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Coinbase Global by 18,515.4% in the 1st quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange’s stock valued at $33,312,000 after buying an additional 192,375 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 1.9%

COIN stock opened at $312.59 on Friday. 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 firm has a market capitalization of $80.32 billion, a PE ratio of 30.23 and a beta of 3.68. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The business’s 50 day simple moving average is $328.31 and its 200 day simple moving average is $274.99.

Coinbase Global (NASDAQ:COIN) last posted its earnings results 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 analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 198,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $209,279.62. The trade was a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 749,515 shares of company stock worth $283,990,425 over the last three months. 17.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Argus initiated coverage on Coinbase Global in a research report on Monday, July 14th. They set a “buy” rating and a $400.00 price target on the stock. William Blair initiated coverage on Coinbase Global in a research report on Wednesday, June 11th. They set an “outperform” rating on the stock. China Renaissance initiated coverage on Coinbase Global in a research report on Tuesday, June 17th. They set a “buy” rating and a $353.30 price target on the stock. Needham & Company LLC boosted their price target on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, JMP Securities boosted their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.