World Equity Group Inc. Sells 150 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

World Equity Group Inc. reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,275 shares of the cryptocurrency exchange’s stock after selling 150 shares during the period. World Equity Group Inc.’s holdings in Coinbase Global were worth $283,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of COIN. Creekmur Asset Management LLC purchased a new position in Coinbase Global in the 4th quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in Coinbase Global in the 2nd quarter worth approximately $29,000. Concord Wealth Partners increased its stake in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on COIN. The Goldman Sachs Group reduced their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. HC Wainwright reduced their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $248.38.

Coinbase Global Stock Up 4.2 %

Coinbase Global stock traded up $8.19 during mid-day trading on Friday, hitting $205.31. The company had a trading volume of 6,240,504 shares, compared to its average volume of 11,017,145. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $225.14 and its two-hundred day moving average price is $219.46. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The company has a market capitalization of $50.42 billion, a PE ratio of 40.98 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted ($0.42) earnings per share. The company’s revenue was up 104.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at $45,428,243. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total value of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares in the company, valued at $45,428,243. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,505 shares of company stock valued at $29,218,061. 23.43% of the stock is currently owned by corporate 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.