Archford Capital Strategies LLC Buys 94 Shares of Coinbase Global, Inc. $COIN

Archford Capital Strategies LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,144 shares of the cryptocurrency exchange’s stock after acquiring an additional 94 shares during the quarter. Archford Capital Strategies LLC’s holdings in Coinbase Global were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COIN. Groupama Asset Managment increased its holdings in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares during the period. Nuveen LLC bought a new position in shares of Coinbase Global during the first quarter worth approximately $83,454,000. Amundi increased its holdings in shares of Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Coinbase Global by 18,515.4% during the first quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange’s stock worth $33,312,000 after purchasing an additional 192,375 shares during the period. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. China Renaissance began coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They set a “buy” rating and a $353.30 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Sanford C. Bernstein increased their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $356.18.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $333.99 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm has a market capitalization of $85.82 billion, a P/E ratio of 32.30 and a beta of 3.68. The company’s 50 day moving average price is $326.71 and its two-hundred day moving average price is $277.31.

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

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider owned 478 shares in the company, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the completion of the sale, the chief financial officer owned 89,220 shares in the company, valued at $28,750,252.80. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 724,515 shares of company stock valued at $275,533,175. Corporate insiders own 23.43% of the company’s stock.

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.