Quadrant Private Wealth Management LLC Has $894,000 Position in Coinbase Global, Inc. $COIN

Quadrant Private Wealth Management LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 69.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,550 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,042 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Coinbase Global were worth $894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Groupama Asset Managment raised its holdings in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares during the period. Vanguard Group Inc. grew its position in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. Nuveen LLC acquired a new position in shares of Coinbase Global in the first quarter valued at approximately $83,454,000. Amundi increased its stake in shares of Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Coinbase Global by 2,647.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock worth $66,572,000 after purchasing an additional 191,300 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.7%

Shares of Coinbase Global stock opened at $309.14 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a market capitalization of $79.43 billion, a price-to-earnings ratio of 26.74 and a beta of 3.67. The firm’s 50-day moving average price is $333.93 and its two-hundred day moving average price is $310.35.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on COIN. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. BTIG Research boosted their target price on shares of Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. B. Riley lifted their price objective on shares of Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Compass Point decreased their target price on shares of Coinbase Global from $277.00 to $266.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $397.36.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 205,657 shares of company stock worth $67,989,576 over the last three months. Corporate insiders own 17.65% 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.