1,516 Shares in Coinbase Global, Inc. $COIN Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,516 shares of the cryptocurrency exchange’s stock, valued at approximately $531,000.

Several other institutional investors have also bought and sold shares of COIN. Bessemer Group Inc. lifted its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global in the first quarter valued at $30,000. S Bank Fund Management Ltd acquired a new stake in shares of Coinbase Global in the first quarter valued at $31,000. SouthState Corp lifted its holdings in shares of Coinbase Global by 128.4% in the first 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 stake in shares of Coinbase Global in the first quarter valued at $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction dated 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 $148,834.86. This represents a 92.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 1,742 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $322.22, for a total value of $561,307.24. Following the sale, the chief financial officer directly owned 5,226 shares of the company’s stock, valued at $1,683,921.72. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 556,321 shares of company stock worth $208,110,150. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 7.7%

Shares of Coinbase Global stock opened at $357.01 on Monday. The stock has a 50-day moving average price of $325.06 and a 200 day moving average price of $288.49. The company has a market cap of $91.73 billion, a P/E ratio of 34.53 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business 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 firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COIN. Mizuho set a $300.00 price objective on Coinbase Global in a report on Thursday, September 18th. Rosenblatt Securities restated a “buy” rating and issued a $470.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Oppenheimer restated an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Barclays cut their price objective on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Coinbase Global from $351.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $367.12.

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.