1,020 Shares in Coinbase Global, Inc. $COIN Acquired by L.M. Kohn & Company

L.M. Kohn & Company purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, Holdings Channel.com reports. The fund purchased 1,020 shares of the cryptocurrency exchange’s stock, valued at approximately $358,000.

Other hedge funds also recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $30,000. City State Bank bought a new stake in Coinbase Global during the 2nd quarter valued at $33,000. Bessemer Group Inc. raised 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. North Star Investment Management Corp. bought a new stake in Coinbase Global during the 2nd quarter valued at $55,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the 1st quarter valued at $30,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In related news, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction on Monday, August 25th. The shares were 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 approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 205,657 shares of company stock worth $67,479,576 in the last three months. Corporate insiders own 17.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Williams Trading set a $405.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. Bank of America lowered their target price on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Finally, Barclays lowered their target price on shares of Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $385.99.

Coinbase Global Stock Down 1.9%

COIN opened at $348.61 on Thursday. The company has a fifty day moving average price of $332.39 and a 200-day moving average price of $304.24. The firm has a market capitalization of $89.57 billion, a P/E ratio of 33.71 and a beta of 3.68. 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, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.