Premier Path Wealth Partners LLC Buys New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Premier Path Wealth Partners LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,253 shares of the cryptocurrency exchange’s stock, valued at approximately $278,000.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $34,422,000. Strs Ohio acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $765,000. Xponance Inc. increased its holdings in shares of Coinbase Global by 3.1% in the fourth quarter. Xponance Inc. now owns 6,454 shares of the cryptocurrency exchange’s stock valued at $1,122,000 after purchasing an additional 193 shares during the period. Greenleaf Trust acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $274,000. Finally, abrdn plc acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $351,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the transaction, the chief operating officer now owns 207,471 shares in the company, valued at $51,071,061.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the sale, the chief operating officer now owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $380,530.20. The disclosure for this sale can be found here. Insiders have sold a total of 110,049 shares of company stock worth $25,542,778 over the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

COIN stock traded up $12.97 during mid-day trading on Friday, reaching $211.40. 8,257,653 shares of the company’s stock were exchanged, compared to its average volume of 10,922,783. The company has a market cap of $51.91 billion, a price-to-earnings ratio of 42.20 and a beta of 3.40. The stock’s 50 day moving average is $221.34 and its 200 day moving average is $220.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on Coinbase Global from $196.00 to $206.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Wedbush raised their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $248.38.

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.