Prospera Financial Services Inc Has $1.63 Million Holdings in Coinbase Global, Inc. $COIN

Prospera Financial Services Inc lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 112.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,647 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,462 shares during the quarter. Prospera Financial Services Inc’s holdings in Coinbase Global were worth $1,629,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in COIN. Vanguard Group Inc. boosted its position in Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after buying an additional 34,462 shares during the period. Groupama Asset Managment grew its stake in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Amundi grew its stake in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Coinbase Global by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock worth $224,318,000 after acquiring an additional 7,675 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Citigroup raised their target price on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, October 31st. HC Wainwright upgraded shares of Coinbase Global from a “sell” rating to a “buy” rating and raised their price objective for the stock from $300.00 to $425.00 in a research note on Thursday, October 30th. Finally, Bank of America dropped their target price on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

Coinbase Global Price Performance

NASDAQ:COIN opened at $304.01 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The company has a 50-day moving average of $334.21 and a 200-day moving average of $313.48. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share 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 analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 4,400 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total value of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at $29,212,856.20. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 19,927 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $288.77, for a total value of $5,754,319.79. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 487,658 shares of company stock worth $154,461,520. Insiders own 23.43% of the company’s stock.

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.