Premier Path Wealth Partners LLC Buys New Holdings in Coinbase Global, Inc. $COIN

Premier Path Wealth Partners LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,316 shares of the cryptocurrency exchange’s stock, valued at approximately $461,000.

Several other hedge funds have also recently added to or reduced their stakes in COIN. Envestnet Asset Management Inc. raised its position in shares of Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after acquiring an additional 9,952 shares in the last quarter. Amalgamated Bank raised its position in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after acquiring an additional 629 shares in the last quarter. Kera Capital Partners Inc. raised its position in shares of Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after acquiring an additional 1,085 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after acquiring an additional 5,402 shares in the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Coinbase Global by 890.8% during the 2nd quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock worth $11,033,000 after acquiring an additional 28,302 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COIN. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. JMP Securities lifted their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. The Goldman Sachs Group lifted their price target on Coinbase Global from $363.00 to $385.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Compass Point raised their target price on shares of Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a research report on Monday, October 20th. Finally, China Renaissance lowered their target price on shares of Coinbase Global from $481.00 to $444.60 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.61.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,400 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at approximately $29,212,856.20. The trade was a 4.93% decrease in their position. 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 25,000 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 over the last three months. 17.65% of the stock is currently owned by corporate insiders.

Coinbase Global Trading Down 5.8%

NASDAQ:COIN opened at $328.51 on Friday. The firm has a market cap of $84.41 billion, a P/E ratio of 31.77 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $332.96 and its 200-day simple moving average is $304.41. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.