Wealth Alliance LLC Buys Shares of 926 Coinbase Global, Inc. $COIN

Wealth Alliance LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 926 shares of the cryptocurrency exchange’s stock, valued at approximately $325,000.

Several other large investors have also recently made changes to their positions in the company. Groupama Asset Managment increased its holdings 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 purchasing an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Coinbase Global in the 1st quarter valued at $83,454,000. Amundi lifted its stake 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 acquiring an additional 481,786 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Coinbase Global by 141.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 403,368 shares of the cryptocurrency exchange’s stock valued at $141,376,000 after acquiring an additional 236,525 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COIN. The Goldman Sachs Group dropped their target price on Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating for the company. Rosenblatt Securities upped their target price on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. China Renaissance raised their price target on shares of Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. Finally, Redburn Partners set a $417.00 price target on shares of Coinbase Global in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $399.94.

Insider Activity

In other Coinbase Global news, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the sale, the chief operating officer directly owned 187,802 shares in the company, valued at approximately $58,383,885.76. The trade was a 34.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 643,346 shares of company stock valued at $203,470,475. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Down 6.9%

Coinbase Global stock opened at $283.14 on Friday. The company has a market capitalization of $76.35 billion, a P/E ratio of 24.49 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The stock has a 50-day simple moving average of $333.77 and a 200-day simple moving average of $313.21.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.