2,820 Shares in Coinbase Global, Inc. $COIN Purchased by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,820 shares of the cryptocurrency exchange’s stock, valued at approximately $988,000.

Several other institutional investors have also added to or reduced their stakes in COIN. Bessemer Group Inc. grew its holdings in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Coinbase Global during the 1st quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the 2nd quarter valued at approximately $30,000. S Bank Fund Management Ltd purchased a new position in Coinbase Global during the 1st quarter valued at approximately $31,000. Finally, SouthState Corp grew its holdings in Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $190,054.32. This trade represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total value of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at $29,212,856.20. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 205,657 shares of company stock valued at $67,479,576. Insiders own 17.65% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $354.46 on Friday. The stock has a market cap of $91.07 billion, a price-to-earnings ratio of 34.28 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The stock has a 50 day moving average price of $329.63 and a 200-day moving average price of $299.59. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.14 earnings per share. Coinbase Global’s revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup raised their price target on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Argus assumed coverage on Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 price target for the company. The Goldman Sachs Group raised their price target on Coinbase Global from $363.00 to $385.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Jefferies Financial Group lifted their target price on Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upgraded Coinbase Global from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $342.00 to $404.00 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $384.12.

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.