Simon Quick Advisors LLC Buys 678 Shares of Coinbase Global, Inc. $COIN

Simon Quick Advisors LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 28.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,080 shares of the cryptocurrency exchange’s stock after purchasing an additional 678 shares during the quarter. Simon Quick Advisors LLC’s holdings in Coinbase Global were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in COIN. GAMMA Investing LLC boosted its position in Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares in the last quarter. Bessemer Group Inc. boosted its position in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Amalgamated Bank boosted its position in Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after purchasing an additional 629 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Coinbase Global by 45.1% during the first quarter. Vontobel Holding Ltd. now owns 25,065 shares of the cryptocurrency exchange’s stock valued at $4,317,000 after purchasing an additional 7,791 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Coinbase Global by 7.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,406 shares of the cryptocurrency exchange’s stock valued at $3,342,000 after purchasing an additional 1,292 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 5.8%

Shares of NASDAQ:COIN opened at $328.51 on Friday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The stock has a market cap of $84.41 billion, a price-to-earnings ratio of 31.77 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $332.96 and a 200-day moving average price of $304.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business 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 predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

COIN has been the subject of a number of research analyst reports. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $384.00 price target on shares of Coinbase Global in a research note on Wednesday. HC Wainwright upgraded Coinbase Global from a “sell” rating to a “buy” rating and increased their price target for the company from $300.00 to $425.00 in a research note on Thursday. JPMorgan Chase & Co. upgraded Coinbase Global from a “neutral” rating to an “overweight” rating and increased their price target for the company from $342.00 to $404.00 in a research note on Friday, October 24th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $390.61.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders 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 insiders.

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.