TRU Independence Asset Management 2 LLC Sells 184 Shares of Coinbase Global, Inc. $COIN

TRU Independence Asset Management 2 LLC lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,309 shares of the cryptocurrency exchange’s stock after selling 184 shares during the quarter. TRU Independence Asset Management 2 LLC’s holdings in Coinbase Global were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $25,000. Bessemer Group Inc. raised its stake in Coinbase Global by 297.4% during 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. North Star Investment Management Corp. bought a new stake in Coinbase Global during the 2nd quarter valued at approximately $55,000. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the 1st quarter valued at approximately $30,000. Finally, S Bank Fund Management Ltd bought a new stake in Coinbase Global during the 1st quarter valued at approximately $31,000. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. HC Wainwright reissued a “sell” rating and set a $300.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Williams Trading set a $405.00 target price on Coinbase Global in a research note on Thursday, July 31st. Erste Group Bank assumed coverage on Coinbase Global in a research note on Wednesday, July 23rd. They set a “buy” rating on the stock. Keefe, Bruyette & Woods decreased their target price on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research note on Monday, August 4th. Finally, Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Thirteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $356.18.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $312.59 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock’s 50 day simple moving average is $328.31 and its two-hundred day simple moving average is $274.99. The company has a market cap of $80.32 billion, a price-to-earnings ratio of 30.23 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion during 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%.Coinbase Global’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 15,439 shares of Coinbase Global 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 completion of the transaction, the insider owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 198,300 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $209,279.62. This trade represents a 99.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 749,515 shares of company stock valued at $283,990,425. Company insiders own 17.65% 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.