Capital Investment Advisors LLC Has $559,000 Holdings in Coinbase Global, Inc. $COIN

Capital Investment Advisors LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 35.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,594 shares of the cryptocurrency exchange’s stock after acquiring an additional 420 shares during the quarter. Capital Investment Advisors LLC’s holdings in Coinbase Global were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after acquiring an additional 9,952 shares in the last quarter. Amalgamated Bank increased its position in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after acquiring an additional 629 shares in the last quarter. Kera Capital Partners Inc. increased its position in Coinbase Global by 3.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after acquiring an additional 1,085 shares in the last quarter. Parallel Advisors LLC increased its position in Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after acquiring an additional 5,402 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 7.5%

Coinbase Global stock opened at $372.07 on Friday. The company’s 50 day simple moving average is $323.85 and its 200 day simple moving average is $279.47. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a market capitalization of $95.60 billion, a price-to-earnings ratio of 35.98 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.

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

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction that occurred on Monday, August 25th. The shares were 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 198,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $209,279.62. This trade represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 714,515 shares of company stock worth $272,046,775 in the last three months. 17.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COIN. Rosenblatt Securities restated a “buy” rating and issued a $470.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Williams Trading set a $405.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the company a “neutral” rating in a research note on Monday, July 7th. Citigroup raised their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, BTIG Research began coverage on shares of Coinbase Global in a research note on Wednesday. They issued a “buy” rating and a $410.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $359.49.

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.