Impact Partnership Wealth LLC Raises Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Impact Partnership Wealth LLC boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,742 shares of the cryptocurrency exchange’s stock after buying an additional 201 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Coinbase Global were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after buying an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC lifted its position in Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after purchasing an additional 22,071 shares during the last quarter. Renaissance Technologies LLC lifted its position in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after purchasing an additional 486,512 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on COIN shares. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. 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. Bank of America lowered their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $242.82.

Coinbase Global Trading Up 5.1 %

Coinbase Global stock opened at $209.16 on Friday. Coinbase Global, Inc. has a one year low of $70.42 and a one year high of $283.48. The business’s fifty day moving average is $180.91 and its 200 day moving average is $210.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $51.36 billion, a PE ratio of 41.75 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share 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 firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted ($0.42) EPS. The firm’s revenue was up 104.8% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the transaction, the chief operating officer now owns 194,971 shares of the company’s stock, valued at $45,428,243. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,187 shares of company stock valued at $13,158,294. 23.43% of the stock is owned by company insiders.

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.