Coinbase Global, Inc. $COIN Stake Raised by Windle Wealth LLC

Windle Wealth LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 15.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 9,568 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,300 shares during the quarter. Coinbase Global accounts for about 1.6% of Windle Wealth LLC’s portfolio, making the stock its 25th biggest position. Windle Wealth LLC’s holdings in Coinbase Global were worth $3,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COIN. Groupama Asset Managment raised its holdings in Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares during the period. Vanguard Group Inc. raised its holdings in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after buying an additional 875,359 shares during the period. Nuveen LLC acquired a new stake in Coinbase Global during the 1st quarter worth about $83,454,000. Amundi raised its holdings in Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares during the period. Finally, Perpetual Ltd acquired a new stake in Coinbase Global during the 2nd quarter worth about $62,324,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Argus initiated coverage on Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 price objective on the stock. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. Jefferies Financial Group boosted their price objective on Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lowered their target price on 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. Finally, Bank of America lowered their target price on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.12.

Coinbase Global Trading Up 3.1%

Shares of NASDAQ COIN opened at $387.27 on Thursday. The stock has a market cap of $99.51 billion, a price-to-earnings ratio of 37.45 and a beta of 3.68. The business has a 50 day simple moving average of $324.03 and a 200 day simple moving average of $284.83. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jennifer N. Jones sold 1,756 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total value of $527,713.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 4,675 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $322.24, for a total value of $1,506,472.00. Following the completion of the sale, the chief financial officer directly owned 89,220 shares of the company’s stock, valued at approximately $28,750,252.80. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 749,515 shares of company stock worth $284,392,325 in the last quarter. Corporate insiders own 17.65% 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.