Strategic Investment Solutions Inc. IL Buys 731 Shares of Coinbase Global, Inc. $COIN

Strategic Investment Solutions Inc. IL increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 974.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 806 shares of the cryptocurrency exchange’s stock after acquiring an additional 731 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Coinbase Global were worth $281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 bought a new position in Coinbase Global during the 4th quarter valued at approximately $26,000. Bessemer Group Inc. raised its position in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Coinbase Global during the 1st quarter valued at approximately $30,000. Finally, S Bank Fund Management Ltd bought a new position in Coinbase Global during the 1st quarter valued at approximately $31,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 4.7%

COIN stock opened at $306.69 on Friday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The business’s 50 day moving average price is $330.45 and its two-hundred day moving average price is $274.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market capitalization of $78.80 billion, a price-to-earnings ratio of 29.66 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company posted $0.14 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on COIN shares. 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. Compass Point reaffirmed 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. Mizuho set a $300.00 price target on Coinbase Global in a research report on Thursday, September 18th. Sanford C. Bernstein upped their price target on Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Finally, The Goldman Sachs Group upped their price target on Coinbase Global from $239.00 to $268.00 and gave the company a “neutral” rating in a research report on Monday, July 7th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $356.18.

Insider Buying and Selling

In related news, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the sale, the insider owned 82,328 shares in the company, valued at $25,587,542.40. This represents a 15.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 526 shares in the company, valued at $209,279.62. The trade was a 99.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 749,515 shares of company stock worth $283,990,425 in the last quarter. Company 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.