Cwm LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,834 shares of the cryptocurrency exchange’s stock after buying an additional 318 shares during the period. Cwm LLC’s holdings in Coinbase Global were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Coinbase Global by 12.5% in the first quarter. Brighton Jones LLC now owns 1,494 shares of the cryptocurrency exchange’s stock valued at $284,000 after purchasing an additional 166 shares during the period. International Assets Investment Management LLC boosted its holdings in Coinbase Global by 15.3% in the first quarter. International Assets Investment Management LLC now owns 1,352 shares of the cryptocurrency exchange’s stock valued at $257,000 after purchasing an additional 179 shares during the period. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Coinbase Global by 21.7% in the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,121 shares of the cryptocurrency exchange’s stock valued at $76,000 after purchasing an additional 200 shares during the period. Signaturefd LLC boosted its holdings in Coinbase Global by 12.1% in the first quarter. Signaturefd LLC now owns 1,986 shares of the cryptocurrency exchange’s stock valued at $134,000 after purchasing an additional 214 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Coinbase Global by 26.6% in the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after purchasing an additional 232 shares during the period. 45.21% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on COIN shares. Needham & Company LLC lifted their price target on Coinbase Global from $70.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 14th. HC Wainwright started coverage on Coinbase Global in a report on Wednesday, April 26th. They set a “buy” rating and a $75.00 price target for the company. Bank of America lifted their price target on Coinbase Global from $49.00 to $58.00 and gave the stock an “underperform” rating in a report on Tuesday. Mizuho decreased their price target on Coinbase Global from $30.00 to $27.00 in a report on Wednesday, May 3rd. Finally, Compass Point lifted their target price on Coinbase Global from $100.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.28.
Coinbase Global Trading Up 2.1 %
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings results on Thursday, May 4th. The cryptocurrency exchange reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($1.44) by $1.59. The company had revenue of $772.53 million during the quarter, compared to the consensus estimate of $652.76 million. Coinbase Global had a negative return on equity of 38.28% and a negative net margin of 81.21%. As a group, analysts forecast that Coinbase Global, Inc. will post -1.99 EPS for the current year.
Insider Buying and Selling at Coinbase Global
In related news, CEO Brian Armstrong sold 29,730 shares of Coinbase Global stock in a transaction on Monday, May 8th. The stock was sold at an average price of $56.56, for a total value of $1,681,528.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Jennifer N. Jones sold 1,704 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $65.00, for a total value of $110,760.00. Following the transaction, the chief accounting officer now directly owns 34,752 shares in the company, valued at approximately $2,258,880. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 29,730 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $56.56, for a total value of $1,681,528.80. The disclosure for this sale can be found here. In the last three months, insiders sold 404,651 shares of company stock worth $31,064,713. Insiders own 33.16% of the company’s stock.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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