Burford Brothers Inc. Acquires 516 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Burford Brothers Inc. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 7.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,081 shares of the cryptocurrency exchange’s stock after purchasing an additional 516 shares during the quarter. Burford Brothers Inc.’s holdings in Coinbase Global were worth $1,262,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after buying an additional 486,512 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares during the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new position in shares of Coinbase Global during the first quarter worth $108,434,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the completion of the transaction, the chief operating officer now owns 194,971 shares in the company, valued at approximately $45,428,243. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,187 shares of company stock worth $13,158,294. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. Bank of America reduced their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday. They set a “neutral” rating and a $185.00 target price on the stock. Finally, Compass Point decreased their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $242.82.

Coinbase Global Stock Down 2.0 %

Shares of Coinbase Global stock opened at $205.04 on Friday. The firm has a market cap of $50.35 billion, a price-to-earnings ratio of 40.93 and a beta of 3.35. The stock’s 50-day moving average is $181.15 and its 200 day moving average is $210.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a one year low of $70.42 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. Coinbase Global’s quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.42) earnings per share. Equities research analysts anticipate that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Coinbase Global 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.