Ameriflex Group Inc. Boosts Holdings in Coinbase Global, Inc. $COIN

Ameriflex Group Inc. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 180 shares of the cryptocurrency exchange’s stock after purchasing an additional 30 shares during the quarter. Ameriflex Group Inc.’s holdings in Coinbase Global were worth $68,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares during the last quarter. North Star Investment Management Corp. purchased a new position in Coinbase Global in the second quarter worth approximately $55,000. McClarren Financial Advisors Inc. purchased a new position in Coinbase Global in the first quarter worth approximately $30,000. S Bank Fund Management Ltd purchased a new position in Coinbase Global in the first quarter worth approximately $31,000. Finally, SouthState Corp lifted its stake in Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $380.02 on Monday. 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 stock has a market capitalization of $97.64 billion, a P/E ratio of 36.75 and a beta of 3.68. The company’s fifty day moving average is $323.62 and its two-hundred day moving average is $282.11. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm 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 in the prior year, the firm posted $0.14 earnings per share. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. This trade represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 714,515 shares of company stock worth $272,046,775 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on COIN shares. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday. BTIG Research started coverage on shares of Coinbase Global in a research note on Wednesday. They issued a “buy” rating and a $410.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Barclays boosted their price objective on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Finally, Monness Crespi & Hardt downgraded shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $367.27.

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.