Simplicity Wealth LLC Purchases 387 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Simplicity Wealth LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,752 shares of the cryptocurrency exchange’s stock after purchasing an additional 387 shares during the quarter. Simplicity Wealth LLC’s holdings in Coinbase Global were worth $834,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Coinbase Global by 65.5% in the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after acquiring an additional 9,564 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $220,000. Stratos Wealth Partners LTD. raised its stake in shares of Coinbase Global by 2.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock worth $669,000 after purchasing an additional 90 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Coinbase Global by 20.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 25,745 shares of the cryptocurrency exchange’s stock worth $4,807,000 after buying an additional 4,416 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Coinbase Global by 2.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 39,400 shares of the cryptocurrency exchange’s stock valued at $6,852,000 after buying an additional 1,000 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

Coinbase Global stock traded up $1.22 during midday trading on Friday, hitting $193.54. 2,495,667 shares of the company’s stock were exchanged, compared to its average volume of 11,177,150. The company has a market cap of $47.53 billion, a P/E ratio of 38.39 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day moving average price of $230.54 and a two-hundred day moving average price of $215.85. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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). 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 quarter last year, the company posted ($0.42) earnings per share. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $943,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction 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. In the last quarter, insiders have sold 242,221 shares of company stock worth $52,617,808. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Piper Sandler upped their price objective on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Mizuho raised their target price on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. HC Wainwright dropped their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein lifted their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average target price 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.