Brighton Jones LLC Sells 407 Shares of Coinbase Global, Inc. $COIN

Brighton Jones LLC lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,420 shares of the cryptocurrency exchange’s stock after selling 407 shares during the quarter. Brighton Jones LLC’s holdings in Coinbase Global were worth $2,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Amalgamated Bank increased its stake in Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after purchasing an additional 629 shares in the last quarter. Kera Capital Partners Inc. increased its stake in Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after purchasing an additional 1,085 shares in the last quarter. Parallel Advisors LLC increased its stake in Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after purchasing an additional 5,402 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Compass Point lifted their price objective on shares of Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a report on Monday, October 20th. Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised shares of Coinbase Global from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $342.00 to $404.00 in a report on Friday. Finally, Wall Street Zen raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $384.12.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the sale, the insider directly owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This represents a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. This trade represents a 92.51% 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 owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $354.46 on Monday. The company’s 50-day moving average is $329.63 and its 200 day moving average is $300.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market capitalization of $91.07 billion, a P/E ratio of 34.28 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Company 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.