Impact Partnership Wealth LLC Sells 3,236 Shares of Coinbase Global, Inc. $COIN

Impact Partnership Wealth LLC cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 76.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,012 shares of the cryptocurrency exchange’s stock after selling 3,236 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Coinbase Global were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its position in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global in the 2nd quarter worth approximately $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global in the 1st quarter worth approximately $31,000. Finally, SouthState Corp lifted its position in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Down 5.8%

Shares of NASDAQ COIN opened at $328.51 on Friday. The firm’s fifty day moving average is $332.96 and its 200 day moving average is $304.41. The company has a market cap of $84.41 billion, a price-to-earnings ratio of 31.77 and a beta of 3.68. 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, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 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 55.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COIN. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Needham & Company LLC upped their target price on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Jefferies Financial Group restated a “hold” rating and set a $384.00 price target on shares of Coinbase Global in a research report on Wednesday. UBS Group set a $404.00 target price on shares of Coinbase Global in a research report on Friday, October 24th. Finally, Argus began coverage on Coinbase Global in a research note on Monday, July 14th. They set a “buy” rating and a $400.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $390.61.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the 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 sale, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. This trade represents a 10.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 205,657 shares of company stock valued at $67,479,576 in the last three months. 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.