Armstrong Fleming & Moore Inc Makes New $329,000 Investment in Coinbase Global, Inc. $COIN

Armstrong Fleming & Moore Inc purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 938 shares of the cryptocurrency exchange’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Coinbase Global by 297.4% during 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 in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the first quarter worth $30,000. S Bank Fund Management Ltd bought a new stake in Coinbase Global during the first quarter worth $31,000. SouthState Corp increased its holdings in shares of Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Finally, NBT Bank N A NY acquired a new position in shares of Coinbase Global in the first quarter valued at $33,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on COIN. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Mizuho set a $300.00 price objective on shares of Coinbase Global in a report on Thursday, September 18th. Finally, Jefferies Financial Group upped their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $367.12.

Coinbase Global Trading Up 3.1%

COIN opened at $387.27 on Thursday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a 50-day simple moving average of $324.03 and a 200 day simple moving average of $284.83. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $99.51 billion, a price-to-earnings ratio of 37.45 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.68 billion. During the same period in the prior year, the company earned $0.14 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,675 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $322.24, for a total value of $1,506,472.00. Following the completion of the transaction, the chief financial officer owned 89,220 shares of the company’s stock, valued at approximately $28,750,252.80. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at $186,977.22. This trade represents a 97.94% 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 valued at $284,392,325 over the last three months. 17.65% of the stock is owned by insiders.

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.