Watts Gwilliam & Co. LLC Makes New $1.78 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Watts Gwilliam & Co. LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 10,598 shares of the cryptocurrency exchange’s stock, valued at approximately $1,777,000.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Concord Wealth Partners lifted its position in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Coinbase Global during the 1st quarter worth $32,000. Crewe Advisors LLC lifted its position in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new stake in Coinbase Global in the second quarter valued at $29,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 1.6 %

Shares of COIN opened at $164.27 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $179.19 and its two-hundred day moving average is $214.32. Coinbase Global, Inc. has a twelve month low of $70.42 and a twelve month high of $283.48. The firm has a market capitalization of $40.82 billion, a P/E ratio of 29.49 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted ($0.42) earnings per share. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. On average, research analysts predict that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday. Bank of America reduced their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Compass Point reduced their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $246.44.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,037 shares of company stock valued at $15,512,370 over the last quarter. Corporate insiders own 23.43% of the company’s stock.

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.