Leavell Investment Management Inc. Buys New Position in Coinbase Global, Inc. $COIN

Leavell Investment Management Inc. bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 651 shares of the cryptocurrency exchange’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in Coinbase Global by 297.4% in 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. McClarren Financial Advisors Inc. purchased a new stake in Coinbase Global in the first quarter worth $30,000. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global in the second quarter worth $30,000. S Bank Fund Management Ltd purchased a new stake in Coinbase Global in the first quarter worth $31,000. Finally, SouthState Corp grew its stake in Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 2.0%

NASDAQ COIN opened at $361.43 on Tuesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The stock has a market cap of $92.87 billion, a P/E ratio of 34.95 and a beta of 3.68. The stock’s fifty day moving average price is $330.44 and its 200-day moving average price is $301.73. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction 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 of the company’s stock, valued at $29,212,856.20. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction 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 directly owned 526 shares in the company, valued at $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 205,657 shares of company stock valued at $67,479,576 over the last ninety days. Insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COIN shares. Citigroup upped their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Compass Point upped their price target on Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a research note on Monday, October 20th. UBS Group set a $404.00 price target on Coinbase Global in a research note on Friday. Finally, BTIG Research began coverage on Coinbase Global in a research note on Wednesday, October 1st. They issued a “buy” rating and a $410.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $384.12.

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.