Aberdeen Group plc Acquires 670 Shares of Coinbase Global, Inc. $COIN

Aberdeen Group plc boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 2.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 29,825 shares of the cryptocurrency exchange’s stock after purchasing an additional 670 shares during the period. Aberdeen Group plc’s holdings in Coinbase Global were worth $5,137,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management purchased a new position in Coinbase Global in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Coinbase Global in the fourth quarter valued at approximately $35,000. Brooklands Fund Management Ltd bought a new stake in Coinbase Global in the fourth quarter valued at approximately $37,245,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $37,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on 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 directly owned 82,328 shares of the company’s stock, valued at $28,702,833.92. This represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $326.71, for a total value of $8,167,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $171,849.46. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,185,704 shares of company stock worth $438,918,732 over the last 90 days. 17.65% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $304.39 on Thursday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock has a market capitalization of $78.21 billion, a P/E ratio of 29.44 and a beta of 3.70. The company’s 50-day moving average is $343.27 and its 200 day moving average is $261.74. 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 (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COIN. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Piper Sandler restated a “neutral” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Oppenheimer reiterated an “outperform” rating and set a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. William Blair began coverage on Coinbase Global in a research note on Wednesday, June 11th. They issued an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $352.72.

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.