TriaGen Wealth Management LLC Makes New $702,000 Investment in Coinbase Global, Inc. $COIN

TriaGen Wealth Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,004 shares of the cryptocurrency exchange’s stock, valued at approximately $702,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Groupama Asset Managment lifted its position in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares during the period. Vanguard Group Inc. increased its stake in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. Nuveen LLC acquired a new position in Coinbase Global during the first quarter worth $83,454,000. Amundi boosted its position in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in Coinbase Global during the second quarter worth $62,324,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COIN shares. Citigroup raised their price target on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. HC Wainwright restated a “sell” rating and set a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $325.00 to $417.00 in a research report on Friday. Bank of America lowered their price target on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Finally, Oppenheimer reissued an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $367.27.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $300.52, for a total transaction of $527,713.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the sale, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 739,515 shares of company stock worth $280,933,525 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Up 1.6%

Shares of NASDAQ COIN opened at $386.07 on Tuesday. The firm has a market cap of $99.20 billion, a P/E ratio of 37.34 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm’s 50 day moving average price is $323.75 and its 200 day moving average price is $283.48.

Coinbase Global (NASDAQ:COIN) last posted 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.Coinbase Global’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. As a group, sell-side analysts anticipate 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.