Coinbase Global, Inc. $COIN Shares Sold by Chokshi & Queen Wealth Advisors Inc

Chokshi & Queen Wealth Advisors Inc lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 29.2% during the second quarter, HoldingsChannel.com reports. The fund owned 8,235 shares of the cryptocurrency exchange’s stock after selling 3,400 shares during the quarter. Coinbase Global accounts for approximately 1.7% of Chokshi & Queen Wealth Advisors Inc’s holdings, making the stock its 12th largest holding. Chokshi & Queen Wealth Advisors Inc’s holdings in Coinbase Global were worth $2,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares in the last quarter. ARK Investment Management LLC lifted its stake in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after buying an additional 34,462 shares in the last quarter. Groupama Asset Managment lifted its stake in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi lifted its stake in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Coinbase Global by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after buying an additional 7,675 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares of the company’s stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the stock in a transaction 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 directly owned 82,328 shares in the company, valued at $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 205,657 shares of company stock valued at $67,479,576. 23.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Coinbase Global from $363.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $470.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $325.00 to $417.00 in a research note on Friday, October 3rd. Finally, Compass Point increased their price target on Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.01.

Coinbase Global Trading Down 1.5%

Shares of Coinbase Global stock opened at $338.62 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a market cap of $87.01 billion, a PE ratio of 32.75 and a beta of 3.68. The business’s fifty day moving average is $329.07 and its two-hundred day moving average is $295.86. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm 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%.The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.