Waterfront Wealth Inc. Buys Shares of 725 Coinbase Global, Inc. $COIN

Waterfront Wealth Inc. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 725 shares of the cryptocurrency exchange’s stock, valued at approximately $254,000.

Several other large investors have also recently bought and sold shares of COIN. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares during the period. ARK Investment Management LLC increased its stake in shares of Coinbase Global by 1.1% in the first 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 grew its stake in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Amundi grew its stake in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares during the period. Finally, Northern Trust Corp grew its stake in Coinbase Global by 0.6% during the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock worth $224,318,000 after purchasing an additional 7,675 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Down 1.9%

Shares of Coinbase Global stock opened at $348.61 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The stock has a 50 day moving average price of $332.39 and a two-hundred day moving average price of $304.24. The stock has a market capitalization of $89.57 billion, a PE ratio of 33.71 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COIN shares. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. BTIG Research started coverage on Coinbase Global in a research note on Wednesday, October 1st. They set a “buy” rating and a $410.00 target price for the company. Needham & Company LLC raised their target price on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Finally, China Renaissance decreased their target price on Coinbase Global from $481.00 to $444.60 and set a “buy” rating for the company in a research note on Tuesday. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $385.99.

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global 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 transaction, the insider directly owned 478 shares of the company’s stock, valued at $148,834.86. The trade was a 92.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. This represents a 15.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 205,657 shares of company stock valued at $67,479,576 in the last three months. 17.65% of the stock is currently owned by insiders.

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.