Wealthspire Advisors LLC Invests $370,000 in Coinbase Global, Inc. $COIN

Wealthspire Advisors LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,057 shares of the cryptocurrency exchange’s stock, valued at approximately $370,000.

A number of other institutional investors have also made changes to their positions in the business. Bessemer Group Inc. grew its stake in Coinbase Global by 672.2% in the second 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 in the last quarter. SP Asset Management LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at approximately $360,000. Kera Capital Partners Inc. boosted its holdings in shares of Coinbase Global by 3.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after buying an additional 1,085 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after buying an additional 5,402 shares in the last quarter. Finally, New York Life Investment Management LLC increased its holdings in Coinbase Global by 890.8% during the second quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock worth $11,033,000 after buying an additional 28,302 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,500 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $273.62, for a total value of $1,504,910.00. Following the completion of the sale, the chief financial officer owned 79,320 shares of the company’s stock, valued at approximately $21,703,538.40. The trade was a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the completion of the transaction, the chief operating officer owned 187,802 shares in the company, valued at $58,383,885.76. This trade represents a 34.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 755,171 shares of company stock valued at $234,838,249. Company insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. UBS Group set a $404.00 target price on shares of Coinbase Global in a report on Friday, October 24th. Jefferies Financial Group reiterated a “hold” rating and set a $384.00 price target on shares of Coinbase Global in a report on Wednesday, October 29th. The Goldman Sachs Group lowered their price target on Coinbase Global from $368.00 to $314.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $398.08.

Coinbase Global Stock Up 0.9%

Shares of COIN opened at $240.41 on Friday. The firm has a market cap of $64.83 billion, a P/E ratio of 20.80 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The firm’s 50-day simple moving average is $327.03 and its 200 day simple moving average is $316.29.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.28 earnings per share. The business’s revenue was up 55.1% on a year-over-year basis. On average, analysts forecast 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.