Quadrant Private Wealth Management LLC Buys 1,042 Shares of Coinbase Global, Inc. $COIN

Quadrant Private Wealth Management LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 69.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,550 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,042 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Coinbase Global were worth $894,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global during the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global during the second quarter valued at about $30,000. S Bank Fund Management Ltd acquired a new stake in shares of Coinbase Global during the first quarter valued at about $31,000. SouthState Corp grew its holdings in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, City State Bank acquired a new position in shares of Coinbase Global in the second quarter valued at approximately $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN stock opened at $309.14 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a market cap of $79.43 billion, a price-to-earnings ratio of 26.74 and a beta of 3.67. The company’s fifty day simple moving average is $333.93 and its 200 day simple moving average is $310.35. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on COIN shares. Citigroup raised their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Rosenblatt Securities raised their price target on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. Mizuho lifted their price target on shares of Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Oppenheimer reissued an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $325.00 to $417.00 in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $397.36.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at $177,519.74. This trade represents a 97.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This represents a 10.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 205,657 shares of company stock valued at $67,989,576 over the last 90 days. Company insiders own 17.65% of the company’s stock.

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.