ORG Wealth Partners LLC Takes $32,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 181 shares of the cryptocurrency exchange’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COIN. Geneos Wealth Management Inc. raised its stake in shares of Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Concord Wealth Partners raised its position 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 purchasing an additional 87 shares during the last quarter. Mather Group LLC. acquired a new position in Coinbase Global during the 1st quarter worth about $32,000. Crewe Advisors LLC grew 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 during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $179.69, for a total value of $269,535.00. Following the completion of the sale, the chief operating officer now directly owns 186,101 shares of the company’s stock, valued at $33,440,488.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Monday, September 30th. The shares were sold at an average price of $179.69, for a total transaction of $269,535.00. Following the transaction, the chief operating officer now directly owns 186,101 shares of the company’s stock, valued at $33,440,488.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,037 shares of company stock worth $14,136,915. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $196.34 on Wednesday. The company has a market cap of $48.22 billion, a P/E ratio of 39.19 and a beta of 3.35. The company has a fifty day simple moving average of $178.81 and a 200 day simple moving average of $211.96. 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, Inc. has a 12-month low of $70.42 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 net margin of 31.46% and a return on equity of 13.89%. The business 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 earned ($0.42) earnings per share. The firm’s quarterly revenue was up 104.8% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. HC Wainwright cut their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Bank of America lowered their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Compass Point cut their price target 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $246.44.

Coinbase Global 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.