Orion Porfolio Solutions LLC Purchases 2,620 Shares of Coinbase Global, Inc. $COIN

Orion Porfolio Solutions LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 32.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,660 shares of the cryptocurrency exchange’s stock after buying an additional 2,620 shares during the period. Orion Porfolio Solutions LLC’s holdings in Coinbase Global were worth $3,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Evelyn Partners Investment Management Europe Ltd grew its stake in Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the 2nd quarter worth $30,000. City State Bank purchased a new position in shares of Coinbase Global in the 2nd quarter worth about $33,000. Financial Gravity Companies Inc. bought a new position in Coinbase Global during the second quarter valued at about $34,000. Finally, Fourth Dimension Wealth LLC grew its position in Coinbase Global by 300.0% during the second quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock valued at $35,000 after buying an additional 75 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 3.5%

NASDAQ:COIN opened at $243.78 on Thursday. The company has a market cap of $65.73 billion, a P/E ratio of 21.09 and a beta of 3.69. The stock’s fifty day moving average price is $298.95 and its two-hundred day moving average price is $318.60. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. 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 for the quarter, beating 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 company 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 business earned $0.28 earnings per share. The firm’s quarterly revenue was up 55.1% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the sale, the chief operating officer directly owned 187,802 shares in the company, valued at $58,383,885.76. This represents a 34.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The SEC filing for this sale provides additional information. Insiders sold 791,804 shares of company stock valued at $240,485,568 in the last quarter. 16.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COIN. Barclays dropped their target price on shares of Coinbase Global from $357.00 to $291.00 and set an “equal weight” rating on the stock in a research note on Friday, December 12th. Compass Point set a $230.00 price objective on Coinbase Global in a research note on Monday. Erste Group Bank lowered Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Rothschild & Co Redburn lowered their target price on Coinbase Global from $417.00 to $404.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Finally, Mizuho set a $280.00 price target on Coinbase Global in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $388.18.

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.