Brookstone Capital Management Has $516,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Brookstone Capital Management increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.8% in the second quarter, Holdings Channel reports. The firm owned 2,321 shares of the cryptocurrency exchange’s stock after buying an additional 168 shares during the quarter. Brookstone Capital Management’s holdings in Coinbase Global were worth $516,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in COIN. Versant Capital Management Inc grew its stake in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the period. Capital Advisors Wealth Management LLC grew its stake in Coinbase Global by 4.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock valued at $314,000 after acquiring an additional 62 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after acquiring an additional 81 shares during the period. Fountainhead AM LLC grew its stake in Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after acquiring an additional 81 shares during the period. Finally, Nilsine Partners LLC grew its stake in Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after acquiring an additional 81 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN opened at $204.46 on Tuesday. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The firm has a market capitalization of $50.21 billion, a PE ratio of 40.81 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day simple moving average is $224.24 and its 200 day simple moving average is $220.63.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The business’s revenue was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.42) EPS. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on COIN. Barclays boosted their target price on Coinbase Global from $196.00 to $206.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Wedbush boosted their target price on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. HC Wainwright cut their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Finally, Bank of America cut their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $248.38.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the sale, the chief executive officer now owns 526 shares in the company, valued at $115,883.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coinbase Global news, insider Lawrence J. Brock sold 16,456 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $223.34, for a total value of $3,675,283.04. Following the sale, the insider now owns 16,140 shares in the company, valued at $3,604,707.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $115,883.06. The disclosure for this sale can be found here. Insiders have sold 126,505 shares of company stock worth $29,218,061 over the last 90 days. Company 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.