Wealth Alliance Makes New $230,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Wealth Alliance bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,035 shares of the cryptocurrency exchange’s stock, valued at approximately $230,000.

Several other institutional investors also recently modified their holdings of the business. Creekmur Asset Management LLC bought a new position in Coinbase Global during the 4th quarter worth approximately $27,000. Crewe Advisors LLC increased its position in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the 2nd quarter valued at $29,000. Concord Wealth Partners raised its stake 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 buying an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on COIN shares. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Bank of America reduced their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Finally, Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $206.00 to $169.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Stock Up 1.1 %

COIN opened at $170.09 on Friday. The stock’s fifty day simple moving average is $199.80 and its 200 day simple moving average is $222.00. Coinbase Global, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48. The stock has a market cap of $41.77 billion, a PE ratio of 33.95 and a beta of 3.36. 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 posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted ($0.42) EPS. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, research analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The disclosure for this sale can be found here. Insiders sold a total of 111,562 shares of company stock worth $23,115,399 over the last quarter. 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.