1,178 Shares in Coinbase Global, Inc. $COIN Purchased by Ewa LLC

Ewa LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,178 shares of the cryptocurrency exchange’s stock, valued at approximately $413,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after purchasing an additional 9,952 shares during the last quarter. Amalgamated Bank raised its stake in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after purchasing an additional 629 shares during the last quarter. Kera Capital Partners Inc. raised its stake in Coinbase Global by 3.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Parallel Advisors LLC raised its stake in Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after purchasing an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 2.6%

Shares of NASDAQ:COIN opened at $346.17 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock has a market capitalization of $88.94 billion, a P/E ratio of 33.48 and a beta of 3.68. The stock has a 50-day simple moving average of $324.34 and a 200-day simple moving average of $278.20.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the sale, the insider owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at $169,519.28. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 714,515 shares of company stock worth $272,046,775. Company insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Williams Trading set a $405.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Oppenheimer reaffirmed an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Piper Sandler reaffirmed a “neutral” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Citigroup upped their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $470.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $358.33.

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.