Wilmington Savings Fund Society FSB Has $856,000 Stock Position in Coinbase Global, Inc. $COIN

Wilmington Savings Fund Society FSB raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 362.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,442 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,914 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Coinbase Global were worth $856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cadent Capital Advisors LLC raised its position in Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after purchasing an additional 30 shares during the last quarter. Ameriflex Group Inc. raised its position in shares of Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after acquiring an additional 30 shares during the last quarter. Hemington Wealth Management raised its position in shares of Coinbase Global by 12.1% during the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after acquiring an additional 38 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Coinbase Global by 13.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock valued at $113,000 after acquiring an additional 39 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Coinbase Global by 4.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,015 shares of the cryptocurrency exchange’s stock valued at $356,000 after acquiring an additional 41 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Jefferies Financial Group upped their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research report on Tuesday, July 29th. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $325.00 to $417.00 in a report on Friday, October 3rd. HC Wainwright reissued a “sell” rating and issued a $300.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Finally, Needham & Company LLC boosted their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 1st. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.94.

Coinbase Global Price Performance

Shares of COIN stock opened at $330.25 on Friday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The firm has a market capitalization of $84.85 billion, a price-to-earnings ratio of 31.94 and a beta of 3.68. 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 firm has a fifty day moving average of $327.75 and a 200-day moving average of $291.54.

Coinbase Global (NASDAQ:COIN) last announced 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 company had revenue of $1.50 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were 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 of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,515 shares of company stock valued at $65,362,451. Company insiders own 17.65% of the company’s stock.

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.