Vestmark Advisory Solutions Inc. Purchases 42,357 Shares of Coinbase Global, Inc. $COIN

Vestmark Advisory Solutions Inc. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 88.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,084 shares of the cryptocurrency exchange’s stock after acquiring an additional 42,357 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Coinbase Global were worth $31,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global in the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the second quarter valued at approximately $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global in the first quarter valued at approximately $31,000. SouthState Corp grew its holdings in Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, City State Bank bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated 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 owned 526 shares of the company’s stock, valued at $186,977.22. This trade represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 205,657 shares of company stock valued at $67,989,576. Insiders own 17.65% of the company’s stock.

Coinbase Global Stock Performance

COIN opened at $289.11 on Friday. The company has a market capitalization of $74.28 billion, a price-to-earnings ratio of 24.99 and a beta of 3.67. The business’s 50-day moving average price is $333.84 and its two-hundred day moving average price is $309.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s revenue was up 55.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. Erste Group Bank began coverage on Coinbase Global in a research report on Wednesday, July 23rd. They issued a “buy” rating on the stock. The Goldman Sachs Group cut their target price on Coinbase Global from $385.00 to $368.00 in a research note on Friday, October 31st. Cantor Fitzgerald decreased their target price on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Finally, Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $397.36.

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.