KCM Investment Advisors LLC Sells 1,312 Shares of Coinbase Global, Inc. $COIN

KCM Investment Advisors LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 69.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 578 shares of the cryptocurrency exchange’s stock after selling 1,312 shares during the quarter. KCM Investment Advisors LLC’s holdings in Coinbase Global were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COIN. Envestnet Asset Management Inc. raised its position in shares of Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after acquiring an additional 9,952 shares during the last quarter. Bessemer Group Inc. increased its position in Coinbase Global by 672.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after purchasing an additional 1,015 shares during the period. SP Asset Management LLC acquired a new stake in Coinbase Global during the 2nd quarter valued at approximately $360,000. Kera Capital Partners Inc. raised its holdings in Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $309.14 on Monday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $83.36 billion, a PE ratio of 26.74 and a beta of 3.67. The stock has a 50-day moving average of $333.93 and a 200-day moving average of $312.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40.

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

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $186,977.22. This trade represents a 97.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 205,657 shares of company stock worth $67,989,576 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Coinbase Global in a research report on Friday, October 31st. Oppenheimer reaffirmed an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, August 1st. JMP Securities boosted their price objective on Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $397.36.

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.