Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Creative Planning

Creative Planning increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 20.0% in the second quarter, HoldingsChannel.com reports. The firm owned 50,210 shares of the cryptocurrency exchange’s stock after acquiring an additional 8,383 shares during the quarter. Creative Planning’s holdings in Coinbase Global were worth $11,158,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. Crewe Advisors LLC increased its stake in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global during the second quarter worth approximately $29,000. Concord Wealth Partners lifted its position in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares in the company, valued at $12,750,015.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The disclosure for this sale can be found here. Insiders have sold a total of 101,612 shares of company stock valued at $20,326,489 in the last ninety days. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, Compass Point lowered their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $246.06.

Coinbase Global Stock Performance

NASDAQ COIN opened at $165.01 on Wednesday. The stock has a market capitalization of $40.52 billion, a price-to-earnings ratio of 32.94 and a beta of 3.36. The business’s 50 day moving average is $188.17 and its two-hundred day moving average is $217.89. Coinbase Global, Inc. has a 12-month low of $70.41 and a 12-month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned ($0.42) EPS. The company’s revenue was up 104.8% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 3.96 EPS for the current year.

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.