Wilmington Savings Fund Society FSB Has $856,000 Stock Holdings in Coinbase Global, Inc. $COIN

Wilmington Savings Fund Society FSB lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 362.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,442 shares of the cryptocurrency exchange’s stock after buying an additional 1,914 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Coinbase Global were worth $856,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after buying an additional 9,952 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after buying an additional 629 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in shares of Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after buying an additional 1,085 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after buying an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after buying an additional 84 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This represents a 15.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,515 shares of company stock valued at $65,362,451 in the last three months. 17.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Erste Group Bank began coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating on the stock. BTIG Research began coverage on shares of Coinbase Global in a report on Wednesday, October 1st. They issued a “buy” rating and a $410.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a report on Friday, October 3rd. Finally, Jefferies Financial Group upped their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.94.

Coinbase Global Stock Down 1.8%

Coinbase Global stock opened at $330.25 on Friday. The stock has a market cap of $84.85 billion, a P/E ratio of 31.94 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 twelve month low of $142.58 and a twelve month high of $444.64. The company’s 50-day moving average price is $327.75 and its two-hundred day moving average price is $291.54.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.