593 Shares in Coinbase Global, Inc. $COIN Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 593 shares of the cryptocurrency exchange’s stock, valued at approximately $208,000.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares during the period. North Star Investment Management Corp. bought a new stake in shares of Coinbase Global during the second quarter worth approximately $55,000. McClarren Financial Advisors Inc. bought a new stake in shares of Coinbase Global during the first quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global during the first quarter worth approximately $31,000. Finally, Ameriflex Group Inc. boosted its holdings in shares of Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after acquiring an additional 30 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Barclays reduced their price objective on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Oppenheimer reiterated an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. BTIG Research initiated coverage on Coinbase Global in a research note on Wednesday, October 1st. They issued a “buy” rating and a $410.00 price target for the company. Redburn Partners set a $417.00 price target on Coinbase Global in a research note on Friday, October 3rd. Finally, Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target for the company. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $367.94.

Coinbase Global Stock Up 1.7%

Shares of COIN opened at $336.02 on Monday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $86.34 billion, a P/E ratio of 32.50 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm has a 50 day simple moving average of $328.26 and a two-hundred day simple moving average of $294.28.

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

Insider Transactions at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the company’s 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 completion of the transaction, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the company’s 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 owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,657 shares of company stock worth $67,479,576. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.