Werba Rubin Papier Wealth Management Takes Position in Coinbase Global, Inc. $COIN

Werba Rubin Papier Wealth Management acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 753 shares of the cryptocurrency exchange’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Bessemer Group Inc. lifted its holdings in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $31,000. SouthState Corp lifted its holdings in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares during the period. Finally, NBT Bank N A NY acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $330.25 on Friday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The stock has a 50 day moving average of $327.75 and a two-hundred day moving average of $291.54. 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 cap of $84.85 billion, a P/E ratio of 31.94 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted 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). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Coinbase Global’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Oppenheimer restated an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, Redburn Partners set a $417.00 price target on Coinbase Global in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.94.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 1,742 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 5,226 shares in the company, valued at approximately $1,683,921.72. The trade was a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $361.32, for a total value of $9,033,000.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at $190,054.32. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,515 shares of company stock valued at $65,362,451 in the last 90 days. Corporate 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.