Transcend Capital Advisors LLC Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Transcend Capital Advisors LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 34.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,713 shares of the cryptocurrency exchange’s stock after purchasing an additional 960 shares during the period. Transcend Capital Advisors LLC’s holdings in Coinbase Global were worth $825,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Concord Wealth Partners increased its holdings in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Mather Group LLC. acquired a new position in shares of Coinbase Global in the first quarter valued at approximately $32,000. Barrett & Company Inc. acquired a new position in Coinbase Global during the fourth quarter worth $26,000. Finally, Creekmur Asset Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 4.2 %

NASDAQ COIN traded down $8.63 during trading hours on Monday, hitting $195.81. 13,237,867 shares of the company’s stock were exchanged, compared to its average volume of 11,270,571. The business’s 50 day moving average is $234.52 and its 200-day moving average is $215.33. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The firm has a market capitalization of $48.08 billion, a P/E ratio of 34.46 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted ($0.42) earnings per share. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the transaction, the chief operating officer now directly owns 207,471 shares in the company, valued at $51,071,061.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the completion of the sale, the chief operating officer now directly owns 207,471 shares in the company, valued at $51,071,061.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 15,580 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the sale, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at $529,287.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,601 shares of company stock worth $56,091,678. 23.43% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on COIN shares. The Goldman Sachs Group dropped their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday. Barclays upped their price objective on Coinbase Global from $196.00 to $206.00 and gave the stock an “underweight” rating in a report on Friday. Mizuho upped their target price on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $245.27.

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.