Burford Brothers Inc. Trims Stock Position in Coinbase Global, Inc. $COIN

Burford Brothers Inc. trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,920 shares of the cryptocurrency exchange’s stock after selling 255 shares during the period. Coinbase Global accounts for approximately 1.1% of Burford Brothers Inc.’s holdings, making the stock its 18th largest holding. Burford Brothers Inc.’s holdings in Coinbase Global were worth $2,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of COIN. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Coinbase Global in the second quarter worth approximately $230,000. International Assets Investment Management LLC acquired a new position in Coinbase Global during the second quarter worth approximately $635,000. DeDora Capital Inc. raised its stake in Coinbase Global by 14.6% during the second quarter. DeDora Capital Inc. now owns 1,722 shares of the cryptocurrency exchange’s stock worth $604,000 after purchasing an additional 219 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Coinbase Global in the 2nd quarter valued at $2,804,000. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Coinbase Global during the 2nd quarter valued at $8,497,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Rosenblatt Securities restated a “buy” rating and issued a $470.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Bank of America decreased their target price on Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. BTIG Research assumed coverage on shares of Coinbase Global in a report on Wednesday, October 1st. They issued a “buy” rating and a $410.00 price target on the stock. Finally, Barclays decreased their price objective on shares of Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $367.94.

Coinbase Global Trading Up 1.7%

COIN opened at $336.02 on Friday. The firm’s 50 day moving average is $328.26 and its 200-day moving average is $293.42. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. 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 market capitalization of $86.34 billion, a P/E ratio of 32.50 and a beta of 3.68.

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 the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company posted $0.14 earnings per share. Coinbase Global’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $190,054.32. The trade was a 97.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total value of $1,515,404.00. Following the transaction, the chief financial officer owned 84,820 shares of the company’s stock, valued at approximately $29,212,856.20. This trade represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,657 shares of company stock valued at $67,479,576. 17.65% of the stock is currently 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.