Coinbase Global, Inc. $COIN Shares Sold by Burford Brothers Inc.

Burford Brothers Inc. decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,920 shares of the cryptocurrency exchange’s stock after selling 255 shares during the period. Coinbase Global makes up 1.1% of Burford Brothers Inc.’s investment portfolio, making the stock its 18th largest position. Burford Brothers Inc.’s holdings in Coinbase Global were worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in COIN. Joseph P. Lucia & Associates LLC bought a new position in Coinbase Global during the second quarter worth $230,000. International Assets Investment Management LLC bought a new position in shares of Coinbase Global in the 2nd quarter worth about $635,000. DeDora Capital Inc. boosted its holdings in shares of Coinbase Global by 14.6% in the 2nd quarter. DeDora Capital Inc. now owns 1,722 shares of the cryptocurrency exchange’s stock valued at $604,000 after buying an additional 219 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Coinbase Global during the 2nd quarter valued at about $2,804,000. Finally, Mutual of America Capital Management LLC acquired a new stake in Coinbase Global during the second quarter worth about $8,497,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Up 1.7%

Shares of NASDAQ:COIN opened at $336.02 on Friday. The company has a 50 day moving average of $328.26 and a 200-day moving average of $293.42. 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 firm has a market cap of $86.34 billion, a P/E ratio of 32.50 and a beta of 3.68. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

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

Analysts Set New Price Targets

A number of brokerages have commented on COIN. Compass Point restated a “sell” rating and issued a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Citigroup upped their price objective on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein increased their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $367.94.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the transaction, the insider owned 82,328 shares in the company, valued at approximately $28,475,608.64. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global 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 transaction, the chief executive officer directly owned 526 shares in the company, valued at $190,054.32. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,657 shares of company stock worth $67,479,576 over the last 90 days. 17.65% of the stock is currently 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.