CV Advisors LLC Has $1.43 Million Position in Coinbase Global, Inc. $COIN

CV Advisors LLC reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 24.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,092 shares of the cryptocurrency exchange’s stock after selling 1,334 shares during the quarter. Coinbase Global makes up 0.4% of CV Advisors LLC’s investment portfolio, making the stock its 17th largest holding. CV Advisors LLC’s holdings in Coinbase Global were worth $1,434,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after buying an additional 113 shares during the period. North Star Investment Management Corp. bought a new position in Coinbase Global in the 2nd quarter worth approximately $55,000. McClarren Financial Advisors Inc. bought a new position in Coinbase Global in the 1st quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global in the 1st quarter worth approximately $31,000. Finally, Ameriflex Group Inc. increased its position in Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after buying an additional 30 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $357.01 on Friday. The business’s fifty day moving average price is $325.06 and its two-hundred day moving average price is $287.80. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The stock has a market capitalization of $91.73 billion, a price-to-earnings ratio of 34.53 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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 net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $0.14 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on COIN. Needham & Company LLC lifted their price target on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Mizuho set a $300.00 price target on Coinbase Global in a research report on Thursday, September 18th. JMP Securities boosted their price objective on Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research report on Monday, July 14th. HC Wainwright restated a “sell” rating and set a $300.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Citigroup boosted their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. One equities research 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. According to MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $367.12.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares in the company, valued at approximately $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction 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. In the last ninety days, insiders have sold 721,764 shares of company stock valued at $273,595,798. 17.65% of the stock is currently owned by company 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.