Atlatl Advisers LLC Purchases Shares of 2,863 Coinbase Global, Inc. $COIN

Atlatl Advisers LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, Holdings Channel reports. The fund acquired 2,863 shares of the cryptocurrency exchange’s stock, valued at approximately $1,003,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global during the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $30,000. S Bank Fund Management Ltd acquired a new stake in shares of Coinbase Global during the 1st quarter worth approximately $31,000. Finally, SouthState Corp grew its position in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 104 shares during the period. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $363.00 to $385.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Oppenheimer restated an “outperform” rating and set a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $384.12.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $28,475,608.64. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the transaction, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at $29,212,856.20. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 205,657 shares of company stock valued at $67,479,576 over the last quarter. 17.65% of the stock is owned by company insiders.

Coinbase Global Trading Up 9.8%

COIN stock opened at $354.46 on Friday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company’s 50-day simple moving average is $329.63 and its 200 day simple moving average is $299.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market capitalization of $91.07 billion, a PE ratio of 34.28 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.68 billion. During the same period in the prior year, the company earned $0.14 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.