Cypress Wealth Services LLC Makes New Investment in Coinbase Global, Inc. $COIN

Cypress Wealth Services LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, HoldingsChannel.com reports. The firm bought 745 shares of the cryptocurrency exchange’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of Coinbase Global during the 2nd quarter worth approximately $55,000. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $31,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Mizuho set a $300.00 price target on shares of Coinbase Global in a report on Thursday, September 18th. The Goldman Sachs Group upped their price target on shares of Coinbase Global from $363.00 to $385.00 and gave the stock a “neutral” rating in a report on Tuesday. Redburn Partners set a $417.00 price target on shares of Coinbase Global in a report on Friday, October 3rd. Finally, Sanford C. Bernstein upped their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $367.94.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,675 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the transaction, the chief financial officer directly owned 89,220 shares of the company’s stock, valued at $28,750,252.80. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,515 shares of company stock worth $56,329,451 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $341.55 on Wednesday. The company has a market cap of $87.76 billion, a price-to-earnings ratio of 33.03 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm has a 50 day simple moving average of $326.71 and a 200 day simple moving average of $290.13. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS 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%. Coinbase Global’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.