Azzad Asset Management Inc. ADV Acquires Shares of 1,000 Coinbase Global, Inc. (NASDAQ:COIN)

Azzad Asset Management Inc. ADV acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,000 shares of the cryptocurrency exchange’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Envestnet Asset Management Inc. lifted its holdings in shares of Coinbase Global by 55.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock valued at $3,579,000 after acquiring an additional 16,914 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Coinbase Global in the 3rd quarter valued at about $450,000. Legal & General Group Plc lifted its holdings in shares of Coinbase Global by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 518,814 shares of the cryptocurrency exchange’s stock valued at $38,953,000 after acquiring an additional 11,730 shares during the last quarter. Scotia Capital Inc. bought a new position in shares of Coinbase Global in the 3rd quarter valued at about $218,000. Finally, Morgan Stanley lifted its holdings in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $134,813.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Jennifer N. Jones sold 15,580 shares of Coinbase Global stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the completion of the sale, the chief accounting officer now directly owns 2,212 shares in the company, valued at $529,287.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $256.30, for a total transaction of $5,914,122.50. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $134,813.80. The disclosure for this sale can be found here. Insiders sold a total of 353,141 shares of company stock worth $78,864,413 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 1.6 %

COIN stock traded down $3.61 during trading on Wednesday, hitting $223.90. 1,922,765 shares of the company’s stock traded hands, compared to its average volume of 11,715,350. The firm has a market capitalization of $54.98 billion, a P/E ratio of 44.88 and a beta of 3.40. The business has a fifty day simple moving average of $227.67 and a two-hundred day simple moving average of $203.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on COIN shares. Mizuho increased their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Wedbush increased their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Oppenheimer increased their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $215.50.

About Coinbase Global

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.