811 Shares in Coinbase Global, Inc. $COIN Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 811 shares of the cryptocurrency exchange’s stock, valued at approximately $284,000.

Several other hedge funds have also recently bought and sold shares of COIN. Bessemer Group Inc. raised its stake in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Coinbase Global during the 2nd quarter worth about $55,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Coinbase Global during the 1st quarter worth about $30,000. S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the 1st quarter worth about $31,000. Finally, SouthState Corp raised its stake in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,675 shares of Coinbase Global stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the sale, the chief financial officer owned 89,220 shares of the company’s stock, valued at approximately $28,750,252.80. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,756 shares of Coinbase Global stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total value of $527,713.12. The disclosure for this sale can be found here. Insiders have sold 724,515 shares of company stock worth $275,533,175 in the last three months. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent research reports. Compass Point reaffirmed a “sell” rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. 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 note on Tuesday, July 29th. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Benchmark increased their price objective on Coinbase Global from $301.00 to $421.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Finally, Mizuho set a $300.00 price objective on Coinbase Global in a report on Thursday, September 18th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $356.18.

Coinbase Global Stock Performance

COIN opened at $333.99 on Tuesday. The firm has a market capitalization of $85.82 billion, a P/E ratio of 32.30 and a beta of 3.68. The stock’s 50 day moving average price is $326.71 and its two-hundred day moving average price is $277.31. 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 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (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 analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.