Lindbrook Capital LLC Has $2.16 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Lindbrook Capital LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 49.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,512 shares of the cryptocurrency exchange’s stock after selling 12,348 shares during the quarter. Lindbrook Capital LLC’s holdings in Coinbase Global were worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COIN. Amalgamated Bank raised its position in shares of Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after purchasing an additional 629 shares during the period. KCM Investment Advisors LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth $507,000. GAMMA Investing LLC increased its holdings in Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after purchasing an additional 84 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Coinbase Global by 124.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange’s stock worth $453,000 after purchasing an additional 1,454 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Coinbase Global by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange’s stock valued at $610,000 after buying an additional 232 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, July 14th. Needham & Company LLC lowered their price objective on Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. JMP Securities increased their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Monday, July 14th. Canaccord Genuity Group restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. Finally, Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $313.10.

Coinbase Global Stock Up 2.2%

Shares of COIN opened at $419.78 on Friday. The business’s 50 day simple moving average is $302.29 and its 200-day simple moving average is $251.31. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.65. The stock has a market capitalization of $106.57 billion, a price-to-earnings ratio of 78.61, a price-to-earnings-growth ratio of 32.00 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. Coinbase Global’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 EPS. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the sale, the chief financial officer owned 97,366 shares in the company, valued at $35,071,233.20. This represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total value of $3,486,400.00. Following the sale, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,245,915 shares of company stock valued at $447,462,456 over the last ninety days. Insiders own 17.65% of the company’s stock.

About Coinbase Global

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.