Brandywine Oak Private Wealth LLC Invests $312,000 in Coinbase Global, Inc. $COIN

Brandywine Oak Private Wealth LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, Holdings Channel reports. The firm acquired 891 shares of the cryptocurrency exchange’s stock, valued at approximately $312,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after buying an additional 34,462 shares during the period. Groupama Asset Managment boosted its holdings in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the period. Amundi boosted its holdings in shares of Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the period. Finally, Northern Trust Corp lifted its position in Coinbase Global by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after purchasing an additional 7,675 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $387.00 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a fifty day moving average price of $324.22 and a two-hundred day moving average price of $286.10. The company has a market cap of $99.44 billion, a PE ratio of 37.43 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the firm’s 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 transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $28,475,608.64. This trade represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. 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 721,764 shares of company stock worth $273,595,798. Corporate insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on COIN. Needham & Company LLC boosted their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. BTIG Research began coverage on shares of Coinbase Global in a report on Wednesday, October 1st. They issued a “buy” rating and a $410.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Piper Sandler restated a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Compass Point reiterated a “sell” rating and issued a $248.00 price objective (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $367.12.

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.