Realta Investment Advisors Acquires 267 Shares of Coinbase Global, Inc. $COIN

Realta Investment Advisors boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,619 shares of the cryptocurrency exchange’s stock after purchasing an additional 267 shares during the period. Coinbase Global makes up 0.9% of Realta Investment Advisors’ portfolio, making the stock its 24th largest position. Realta Investment Advisors’ holdings in Coinbase Global were worth $2,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings 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 acquiring an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global in the first quarter valued at approximately $30,000. S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the first quarter valued at approximately $31,000. SouthState Corp boosted its stake in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, NBT Bank N A NY bought a new position in shares of Coinbase Global in the first quarter worth approximately $33,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COIN shares. Benchmark increased their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $470.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Sanford C. Bernstein boosted their price target on Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. The Goldman Sachs Group increased their price objective on Coinbase Global from $351.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and set a $417.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $367.27.

Coinbase Global Stock Performance

Shares of COIN opened at $380.02 on Friday. The company has a market cap of $97.64 billion, a price-to-earnings ratio of 36.75 and a beta of 3.68. The business’s fifty day simple moving average is $323.62 and its two-hundred day simple moving average is $281.47. 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.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.Coinbase Global’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 198,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $209,279.62. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,798,441.20. Following the completion of the sale, the insider directly owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 714,515 shares of company stock worth $272,046,775. 17.65% of the stock is owned by insiders.

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.