Emerald Advisers LLC Buys 544 Shares of Coinbase Global, Inc. $COIN

Emerald Advisers LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 30.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,326 shares of the cryptocurrency exchange’s stock after acquiring an additional 544 shares during the period. Emerald Advisers LLC’s holdings in Coinbase Global were worth $815,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. World Investment Advisors boosted its holdings in Coinbase Global by 2.0% in the second quarter. World Investment Advisors now owns 5,011 shares of the cryptocurrency exchange’s stock valued at $1,756,000 after acquiring an additional 99 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Coinbase Global by 6.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,185 shares of the cryptocurrency exchange’s stock valued at $766,000 after buying an additional 134 shares in the last quarter. Daymark Wealth Partners LLC bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $255,000. Waterfront Wealth Inc. bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $254,000. Finally, Mayflower Financial Advisors LLC boosted its holdings in shares of Coinbase Global by 13.5% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 1,906 shares of the cryptocurrency exchange’s stock valued at $668,000 after buying an additional 227 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Rosenblatt Securities dropped their target price on shares of Coinbase Global from $470.00 to $450.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America dropped their target price on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Citigroup lifted their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Monness Crespi & Hardt lowered Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $385.99.

Insider Activity

In other news, CFO Alesia J. Haas sold 4,400 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the sale, the chief financial officer owned 84,820 shares of the company’s stock, valued at $29,212,856.20. This represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were 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 of the company’s stock, valued at $190,054.32. The trade was a 97.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 205,657 shares of company stock valued at $67,479,576 in the last quarter. 17.65% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $348.61 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a market cap of $89.57 billion, a price-to-earnings ratio of 33.71 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The business has a 50-day simple moving average of $332.39 and a two-hundred day simple moving average of $304.24.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS 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 business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the company earned $0.14 EPS. Coinbase Global’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global 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.