5,413 Shares in Coinbase Global, Inc. $COIN Acquired by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,413 shares of the cryptocurrency exchange’s stock, valued at approximately $1,897,000.

A number of other hedge funds have also modified their holdings of COIN. Cadent Capital Advisors LLC raised its holdings in Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. boosted its position 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 purchasing an additional 30 shares during the period. Pettinga Financial Advisors LLC increased its holdings in Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares during the last quarter. Hemington Wealth Management raised its position in Coinbase Global by 12.1% in the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after purchasing an additional 38 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in Coinbase Global by 13.7% in the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock valued at $113,000 after purchasing an additional 39 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 19,927 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $288.77, for a total value of $5,754,319.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $301.46, for a total value of $3,014,600.00. Following the transaction, the director directly owned 204,973 shares in the company, valued at approximately $61,791,160.58. This trade represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 487,658 shares of company stock worth $154,461,520. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COIN. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and upped their price objective for the stock from $300.00 to $425.00 in a research report on Thursday, October 30th. Bank of America reduced their price objective on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Erste Group Bank began coverage on Coinbase Global in a research note on Wednesday, July 23rd. They set a “buy” rating for the company. Finally, Rothschild & Co Redburn upgraded Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $325.00 to $417.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $399.94.

Coinbase Global Trading Down 4.4%

Shares of Coinbase Global stock opened at $304.01 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $334.21 and a 200-day simple moving average of $313.48. The stock has a market cap of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $0.28 earnings per share. Coinbase Global’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.