Boyd Watterson Asset Management LLC OH Cuts Stake in Coinbase Global, Inc. $COIN

Boyd Watterson Asset Management LLC OH reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,512 shares of the cryptocurrency exchange’s stock after selling 646 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Coinbase Global were worth $1,581,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Howard Capital Management Inc. increased its stake in Coinbase Global by 4.9% during the 2nd quarter. Howard Capital Management Inc. now owns 1,248 shares of the cryptocurrency exchange’s stock worth $437,000 after buying an additional 58 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Coinbase Global by 169.6% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 38,939 shares of the cryptocurrency exchange’s stock worth $13,648,000 after buying an additional 24,497 shares during the period. United Capital Management of KS Inc. increased its stake in Coinbase Global by 3.4% during the 2nd quarter. United Capital Management of KS Inc. now owns 12,813 shares of the cryptocurrency exchange’s stock worth $4,491,000 after buying an additional 427 shares during the period. Aequim Alternative Investments LP increased its stake in Coinbase Global by 16.7% during the 2nd quarter. Aequim Alternative Investments LP now owns 68,600 shares of the cryptocurrency exchange’s stock worth $24,044,000 after buying an additional 9,800 shares during the period. Finally, Bessemer Group Inc. increased its stake in Coinbase Global by 672.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after buying an additional 1,015 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COIN has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research note on Monday, August 4th. Oppenheimer reiterated an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Barclays lowered their price target on shares of Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $384.12.

Coinbase Global Trading Up 2.0%

Shares of Coinbase Global stock opened at $361.43 on Tuesday. The company has a fifty day simple moving average of $330.44 and a 200-day simple moving average of $301.73. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock has a market cap of $92.87 billion, a price-to-earnings ratio of 34.95 and a beta of 3.68.

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

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. This represents a 92.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,657 shares of company stock worth $67,479,576. Corporate insiders own 23.43% of the company’s stock.

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.