Capital Impact Advisors LLC Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Capital Impact Advisors LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, HoldingsChannel.com reports. The firm purchased 3,464 shares of the cryptocurrency exchange’s stock, valued at approximately $770,000. Coinbase Global makes up approximately 2.2% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors have also recently modified their holdings of the business. Seaport Global Advisors LLC purchased a new stake in Coinbase Global during the second quarter worth $385,000. Sunbelt Securities Inc. boosted its position in Coinbase Global by 84.3% during the second quarter. Sunbelt Securities Inc. now owns 553 shares of the cryptocurrency exchange’s stock worth $123,000 after purchasing an additional 253 shares in the last quarter. NewEdge Advisors LLC boosted its position in Coinbase Global by 7.3% during the second quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock worth $1,081,000 after purchasing an additional 332 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Coinbase Global by 3.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,373 shares of the cryptocurrency exchange’s stock worth $8,528,000 after purchasing an additional 1,137 shares in the last quarter. Finally, Creative Planning boosted its position in Coinbase Global by 20.0% during the second quarter. Creative Planning now owns 50,210 shares of the cryptocurrency exchange’s stock worth $11,158,000 after purchasing an additional 8,383 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Coinbase Global stock opened at $191.23 on Monday. The firm has a market capitalization of $46.96 billion, a P/E ratio of 38.17 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. The stock has a fifty day moving average price of $191.76 and a 200 day moving average price of $218.82. Coinbase Global, Inc. has a 52 week low of $70.41 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced 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). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) earnings per share. Equities research analysts anticipate that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 4,500 shares of the 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 transaction, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. Insiders sold 91,612 shares of company stock worth $18,625,489 over the last three months. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on COIN. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. HC Wainwright reduced their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $246.06.

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.