Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 2.6% in the second quarter, HoldingsChannel reports. The firm owned 2,764 shares of the cryptocurrency exchange’s stock after selling 75 shares during the quarter. Harbour Investments Inc.’s holdings in Coinbase Global were worth $614,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares in the last quarter. Versant Capital Management Inc lifted 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 worth $30,000 after acquiring an additional 57 shares during the last quarter. Capital Advisors Wealth Management LLC lifted 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 worth $314,000 after acquiring an additional 62 shares during the last quarter. Concord Wealth Partners grew its holdings in 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 acquiring an additional 87 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Coinbase Global by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 8,813 shares of the cryptocurrency exchange’s stock valued at $1,533,000 after purchasing an additional 94 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the transaction, the chief financial officer now owns 182,903 shares in the company, valued at approximately $41,901,248.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The disclosure for this sale can be found here. Insiders sold 78,987 shares of company stock worth $17,535,714 over the last three months. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

COIN has been the subject of a number of analyst reports. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Compass Point lowered their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Barclays boosted their target price on Coinbase Global from $196.00 to $206.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $248.38.

Coinbase Global Stock Performance

Coinbase Global stock opened at $190.20 on Thursday. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The stock has a fifty day moving average price of $218.19 and a 200 day moving average price of $223.59. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $46.71 billion, a P/E ratio of 37.96 and a beta of 3.40.

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