Spartan Wealth Advisory Services LLC Invests $1.23 Million in Coinbase Global, Inc. $COIN

Spartan Wealth Advisory Services LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,059 shares of the cryptocurrency exchange’s stock, valued at approximately $1,233,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. acquired a new position in Coinbase Global in the 4th quarter worth about $27,000. Palisade Asset Management LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $29,000. Osbon Capital Management LLC acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $30,000. Archer Investment Corp increased its position in shares of Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 153 shares in the last quarter. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $157.12 on Monday. The business has a fifty day moving average price of $170.41 and a 200 day moving average price of $186.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market cap of $41.39 billion, a P/E ratio of 59.07, a P/E/G ratio of 10.14 and a beta of 3.35. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $0.24 EPS. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. Research analysts anticipate that Coinbase Global, Inc. will post 1.41 EPS for the current fiscal year.

Key Headlines Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

Insider Buying and Selling at Coinbase Global

In related news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 30,627 shares of company stock valued at $5,327,841. Corporate insiders own 16.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wolfe Research set a $325.00 target price on Coinbase Global in a research note on Thursday, July 9th. KeyCorp reissued a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. The Goldman Sachs Group boosted their price target on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Benchmark restated a “buy” rating and set a $270.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Rothschild & Co Redburn increased their price objective on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $245.39.

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.