Blue Trust Inc. Has $198,000 Stock Position in Coinbase Global, Inc. $COIN

Blue Trust Inc. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 44.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 564 shares of the cryptocurrency exchange’s stock after purchasing an additional 174 shares during the period. Blue Trust Inc.’s holdings in Coinbase Global were worth $198,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased 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 worth $26,000 after purchasing an additional 113 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Coinbase Global during the 2nd quarter worth approximately $55,000. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the 1st quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new stake in Coinbase Global during the 1st quarter worth approximately $31,000. Finally, Ameriflex Group Inc. increased its holdings in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after purchasing an additional 30 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Down 1.5%

NASDAQ:COIN opened at $336.30 on Thursday. The company has a market cap of $86.41 billion, a P/E ratio of 32.52 and a beta of 3.68. The stock’s fifty day moving average price is $327.37 and its two-hundred day moving average price is $290.45. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. 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 (NASDAQ:COIN) last posted its earnings results 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). The company 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 was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 1,742 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $322.22, for a total transaction of $561,307.24. Following the sale, the chief financial officer owned 5,226 shares in the company, valued at $1,683,921.72. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,515 shares of company stock worth $65,362,451. Insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities upped their target price on Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a report on Monday, July 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $470.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Barclays reduced their target price on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $367.94.

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.