RWQ Financial Management Services Inc. Acquires Shares of 11,850 Coinbase Global, Inc. $COIN

RWQ Financial Management Services Inc. acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,850 shares of the cryptocurrency exchange’s stock, valued at approximately $4,153,000. Coinbase Global comprises about 1.7% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Huntleigh Advisors Inc. acquired a new stake in shares of Coinbase Global during the second quarter worth $2,147,000. Chevy Chase Trust Holdings LLC bought a new position in Coinbase Global in the 2nd quarter valued at about $39,137,000. Oriental Harbor Investment Master Fund bought a new position in Coinbase Global in the 2nd quarter valued at about $54,980,000. Nordea Investment Management AB lifted its holdings in Coinbase Global by 16.3% in the 2nd quarter. Nordea Investment Management AB now owns 17,491 shares of the cryptocurrency exchange’s stock valued at $6,179,000 after acquiring an additional 2,456 shares during the last quarter. Finally, Praxis Investment Management Inc. lifted its holdings in Coinbase Global by 37.4% in the 2nd quarter. Praxis Investment Management Inc. now owns 4,480 shares of the cryptocurrency exchange’s stock valued at $1,570,000 after acquiring an additional 1,220 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on COIN. Jefferies Financial Group raised their target price 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. Piper Sandler reiterated a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Mizuho set a $300.00 price objective on shares of Coinbase Global in a research note on Thursday, September 18th. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $325.00 to $417.00 in a research note on Friday, October 3rd. Finally, Erste Group Bank started coverage on Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $367.94.

Coinbase Global Trading Up 1.7%

NASDAQ COIN opened at $336.02 on Friday. The company has a market cap of $86.34 billion, a PE ratio of 32.50 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The stock has a 50 day moving average of $328.26 and a 200-day moving average of $292.66.

Coinbase Global (NASDAQ:COIN) last released 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). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $0.14 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider directly owned 478 shares of the company’s stock, valued at approximately $148,834.86. This represents a 92.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 15,439 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the sale, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 205,657 shares of company stock worth $67,479,576 in the last 90 days. Company insiders own 17.65% of the company’s stock.

Coinbase Global 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.