Coinbase Global, Inc. $COIN Stock Holdings Increased by Belpointe Asset Management LLC

Belpointe Asset Management LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,337 shares of the cryptocurrency exchange’s stock after buying an additional 306 shares during the quarter. Belpointe Asset Management LLC’s holdings in Coinbase Global were worth $819,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in COIN. Merit Financial Group LLC grew its stake in shares of Coinbase Global by 50.2% in the 1st quarter. Merit Financial Group LLC now owns 1,949 shares of the cryptocurrency exchange’s stock valued at $336,000 after buying an additional 651 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Coinbase Global by 21.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,765 shares of the cryptocurrency exchange’s stock valued at $304,000 after buying an additional 315 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Coinbase Global by 8.5% in the 1st quarter. Park Avenue Securities LLC now owns 3,599 shares of the cryptocurrency exchange’s stock valued at $620,000 after buying an additional 282 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Coinbase Global by 44.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,390 shares of the cryptocurrency exchange’s stock valued at $243,000 after buying an additional 426 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Coinbase Global by 87.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange’s stock valued at $578,000 after buying an additional 1,561 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.1%

Shares of COIN stock opened at $387.27 on Thursday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a market cap of $99.51 billion, a PE ratio of 37.45 and a beta of 3.68. The stock has a 50 day moving average of $324.03 and a 200-day moving average of $284.83. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 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 analyst estimates of $1.68 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of several recent research reports. Sanford C. Bernstein boosted their price target on Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Rosenblatt Securities restated a “buy” rating and issued a $470.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. William Blair initiated coverage on Coinbase Global in a report on Wednesday, June 11th. They issued an “outperform” rating for the company. Finally, Rothschild & Co Redburn upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $325.00 to $417.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $367.12.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 749,515 shares of company stock valued at $284,392,325. Corporate insiders own 17.65% of the company’s stock.

About Coinbase Global

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.