684 Shares in Coinbase Global, Inc. $COIN Bought by Modera Wealth Management LLC

Modera Wealth Management LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 684 shares of the cryptocurrency exchange’s stock, valued at approximately $240,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Groupama Asset Managment lifted its position in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after acquiring an additional 875,359 shares during the last quarter. Nuveen LLC bought a new position in Coinbase Global in the first quarter worth about $83,454,000. Amundi boosted its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after acquiring an additional 481,786 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Coinbase Global by 2,647.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock valued at $66,572,000 after purchasing an additional 191,300 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the sale, the chief executive officer owned 526 shares of the company’s stock, valued at $177,519.74. The trade was a 97.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This trade represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 205,657 shares of company stock valued at $67,989,576. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on COIN shares. JPMorgan Chase & Co. dropped their price target on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Barclays dropped their target price on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Piper Sandler reiterated a “neutral” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $325.00 to $417.00 in a research report on Friday, October 3rd. Finally, Williams Trading set a $405.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $397.36.

Coinbase Global Price Performance

Shares of COIN opened at $309.14 on Monday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The stock’s fifty day moving average is $333.93 and its 200-day moving average is $312.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a market capitalization of $83.36 billion, a price-to-earnings ratio of 26.74 and a beta of 3.67.

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