Chicago Partners Investment Group LLC Buys 59 Shares of Coinbase Global, Inc. $COIN

Chicago Partners Investment Group LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,092 shares of the cryptocurrency exchange’s stock after purchasing an additional 59 shares during the period. Chicago Partners Investment Group LLC’s holdings in Coinbase Global were worth $383,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COIN. GAMMA Investing LLC grew its holdings in Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Coinbase Global by 40.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange’s stock worth $2,213,000 after acquiring an additional 3,695 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Coinbase Global by 23.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 37,869 shares of the cryptocurrency exchange’s stock worth $6,522,000 after acquiring an additional 7,073 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Coinbase Global by 60.7% in the first quarter. Oppenheimer & Co. Inc. now owns 16,724 shares of the cryptocurrency exchange’s stock worth $2,880,000 after acquiring an additional 6,315 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Coinbase Global by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 73,643 shares of the cryptocurrency exchange’s stock worth $12,684,000 after acquiring an additional 3,818 shares during the period. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays dropped their price objective on 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. Oppenheimer reaffirmed an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Citigroup upped their price objective on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Bank of America dropped their price objective on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Finally, HC Wainwright reaffirmed a “sell” rating and issued a $300.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $376.09.

Insider Buying and Selling at Coinbase Global

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

Coinbase Global Trading Up 0.8%

Shares of COIN stock opened at $322.76 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The stock’s 50 day simple moving average is $328.89 and its two-hundred day simple moving average is $297.17. The company has a market cap of $82.93 billion, a PE ratio of 31.21 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.