Journey Strategic Wealth LLC Invests $616,000 in Coinbase Global, Inc. $COIN

Journey Strategic Wealth LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,758 shares of the cryptocurrency exchange’s stock, valued at approximately $616,000.

Other large investors have also modified their holdings of the company. Allianz Asset Management GmbH increased its holdings in Coinbase Global by 461.3% during the 1st quarter. Allianz Asset Management GmbH now owns 70,925 shares of the cryptocurrency exchange’s stock worth $12,215,000 after purchasing an additional 58,290 shares during the period. Wedbush Securities Inc. boosted its position in shares of Coinbase Global by 14.9% during the 1st quarter. Wedbush Securities Inc. now owns 3,486 shares of the cryptocurrency exchange’s stock worth $600,000 after acquiring an additional 452 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of Coinbase Global by 23.6% in the 1st quarter. AE Wealth Management LLC now owns 1,281 shares of the cryptocurrency exchange’s stock valued at $221,000 after acquiring an additional 245 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Coinbase Global during the 1st quarter worth about $427,000. Finally, Avantax Advisory Services Inc. lifted its stake in Coinbase Global by 110.2% during the first quarter. Avantax Advisory Services Inc. now owns 7,211 shares of the cryptocurrency exchange’s stock worth $1,242,000 after purchasing an additional 3,781 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of Coinbase Global stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total value of $85,870,774.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 755,171 shares of company stock valued at $234,838,249. 17.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COIN. Benchmark restated a “buy” rating on shares of Coinbase Global in a research report on Friday, October 31st. Mizuho upped their target price on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Barclays reduced their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $398.08.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $240.41 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The firm has a market capitalization of $64.83 billion, a P/E ratio of 20.80 and a beta of 3.67. The company’s fifty day moving average is $327.03 and its two-hundred day moving average is $316.29.

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