Capital Advisors Inc. OK Purchases New Position in Coinbase Global, Inc. $COIN

Capital Advisors Inc. OK acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 904 shares of the cryptocurrency exchange’s stock, valued at approximately $317,000.

Several other hedge funds have also recently made changes to their positions in COIN. Belpointe Asset Management LLC raised its holdings in shares of Coinbase Global by 15.1% during the second quarter. Belpointe Asset Management LLC now owns 2,337 shares of the cryptocurrency exchange’s stock valued at $819,000 after acquiring an additional 306 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Coinbase Global by 8.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,729 shares of the cryptocurrency exchange’s stock valued at $1,658,000 after purchasing an additional 371 shares during the period. Joule Financial LLC bought a new position in Coinbase Global in the 2nd quarter worth $1,231,000. Hubbell Strickland Wealth Management LLC bought a new position in Coinbase Global in the 2nd quarter worth $249,000. Finally, Realta Investment Advisors lifted its position in shares of Coinbase Global by 4.2% in the 2nd quarter. Realta Investment Advisors now owns 6,619 shares of the cryptocurrency exchange’s stock worth $2,320,000 after purchasing an additional 267 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COIN. Oppenheimer reiterated an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. HC Wainwright reiterated a “sell” rating and set a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 target price for the company. Citigroup lifted their price target on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Mizuho set a $300.00 price objective on Coinbase Global in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $367.27.

Coinbase Global Stock Up 1.6%

Shares of NASDAQ:COIN opened at $386.07 on Tuesday. The stock has a fifty day simple moving average of $323.75 and a two-hundred day simple moving average of $283.48. The stock has a market capitalization of $99.20 billion, a price-to-earnings ratio of 37.34 and a beta of 3.68. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

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

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total transaction of $3,045,200.00. Following the sale, the insider owned 82,328 shares in the company, valued at $25,070,522.56. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 739,515 shares of company stock worth $280,933,525 in the last ninety days. 23.43% of the stock is currently owned by company 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.