Coinbase Global, Inc. $COIN Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,017 shares of the cryptocurrency exchange’s stock after purchasing an additional 165 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Coinbase Global were worth $4,632,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after purchasing an additional 9,952 shares during the last quarter. Amalgamated Bank raised its holdings in 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 last quarter. Kera Capital Partners Inc. raised its holdings in Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Parallel Advisors LLC increased its position in Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after buying an additional 5,402 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after buying an additional 84 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $169,519.28. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider directly owned 478 shares of the company’s stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 749,515 shares of company stock valued at $283,990,425. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $306.69 on Friday. The company has a market cap of $78.80 billion, a P/E ratio of 29.66 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The business has a fifty day simple moving average of $330.45 and a 200-day simple moving average of $274.16.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on COIN shares. Sanford C. Bernstein raised their price target on Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Compass Point reissued a “sell” rating and set a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. China Renaissance started coverage on Coinbase Global in a research report on Tuesday, June 17th. They set a “buy” rating and a $353.30 price target for the company. Jefferies Financial Group raised their price target on Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a research report on Tuesday, July 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Thirteen 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $356.18.

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.