Joel Isaacson & Co. LLC Buys 500 Shares of Coinbase Global, Inc. $COIN

Joel Isaacson & Co. LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,028 shares of the cryptocurrency exchange’s stock after acquiring an additional 500 shares during the period. Joel Isaacson & Co. LLC’s holdings in Coinbase Global were worth $4,216,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. North Star Investment Management Corp. purchased a new position in Coinbase Global in the second quarter worth about $55,000. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global in the first quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new position in shares of Coinbase Global in the first quarter worth approximately $31,000. Finally, Ameriflex Group Inc. grew its holdings in shares of Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $386.07 on Tuesday. 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 capitalization of $99.20 billion, a price-to-earnings ratio of 37.34 and a beta of 3.68. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The firm has a 50 day moving average of $323.75 and a 200 day moving average of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at approximately $25,070,522.56. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 739,515 shares of company stock valued at $280,933,525. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. China Renaissance assumed coverage on shares of Coinbase Global in a report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price objective for the company. Rothschild & Co Redburn upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $325.00 to $417.00 in a research note on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, Sanford C. Bernstein boosted their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.27.

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.