Concord Wealth Partners Takes $188,000 Position in Coinbase Global, Inc. $COIN

Concord Wealth Partners bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 537 shares of the cryptocurrency exchange’s stock, valued at approximately $188,000.

Several other large investors have also recently bought and sold shares of COIN. Sequoia Financial Advisors LLC boosted its position in shares of Coinbase Global by 26.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,831 shares of the cryptocurrency exchange’s stock worth $1,693,000 after acquiring an additional 1,014 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Coinbase Global by 796.6% during the 2nd quarter. Yousif Capital Management LLC now owns 23,445 shares of the cryptocurrency exchange’s stock worth $8,217,000 after acquiring an additional 20,830 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Coinbase Global by 78.5% during the 2nd quarter. MGO One Seven LLC now owns 3,186 shares of the cryptocurrency exchange’s stock worth $1,117,000 after acquiring an additional 1,401 shares in the last quarter. Welch Group LLC purchased a new stake in Coinbase Global during the second quarter worth approximately $350,000. Finally, Bill Few Associates Inc. purchased a new stake in Coinbase Global during the second quarter worth approximately $234,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction that occurred 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 in the company, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $209,279.62. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,815 shares of company stock worth $135,227,072. 23.43% of the stock is currently owned by insiders.

Coinbase Global Stock Down 0.0%

Shares of NASDAQ:COIN opened at $356.99 on Tuesday. The firm has a fifty day moving average price of $325.84 and a 200 day moving average price of $289.77. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The stock has a market cap of $91.73 billion, a P/E ratio of 34.53 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last announced its 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 business had revenue of $1.50 billion during 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%. Coinbase Global’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COIN. BTIG Research began coverage on shares of Coinbase Global in a report on Wednesday, October 1st. They set a “buy” rating and a $410.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Coinbase Global from $351.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Jefferies Financial Group increased their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research report on Tuesday, July 29th. JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. Finally, Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.