Acorn Financial Advisory Services Inc. ADV Invests $269,000 in Coinbase Global, Inc. $COIN

Acorn Financial Advisory Services Inc. ADV bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 768 shares of the cryptocurrency exchange’s stock, valued at approximately $269,000.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of 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 purchasing an additional 113 shares during the period. North Star Investment Management Corp. bought a new position in shares of Coinbase Global during the second quarter worth approximately $55,000. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the first quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global in the first quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. boosted its stake in shares of Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after buying an additional 30 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 1,742 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $322.22, for a total value of $561,307.24. Following the completion of the transaction, the chief financial officer owned 5,226 shares of the company’s stock, valued at $1,683,921.72. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,515 shares of company stock worth $56,329,451. 23.43% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Jefferies Financial Group boosted their price target on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. JMP Securities boosted their price target on Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. The Goldman Sachs Group boosted their price target on Coinbase Global from $363.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Citigroup boosted their price target on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. One equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $367.94.

Coinbase Global Trading Down 4.3%

Shares of COIN stock opened at $341.55 on Wednesday. The stock’s fifty day moving average price is $326.71 and its two-hundred day moving average price is $290.13. The company has a market cap of $87.76 billion, a PE ratio of 33.03 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. 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 (NASDAQ:COIN) last issued its 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). 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 company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.