1,131 Shares in Coinbase Global, Inc. $COIN Purchased by Clarius Group LLC

Key Points

• Clarius Group LLC acquired 1,131 shares of Coinbase Global, Inc. ($COIN) in Q2, valued at approximately $396,000, as institutional investors and hedge funds own around 68.84% of the stock.
• Analysts have a consensus rating of "Moderate Buy" for Coinbase, with an average price target of $367.27, reflecting confidence in the stock's potential despite a recent earnings miss.
• Coinbase reported Q2 earnings with a revenue of $1.50 billion, falling short of estimates, and an EPS of $0.12, missing the forecast by ($0.79).

Clarius Group LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,131 shares of the cryptocurrency exchange's stock, valued at approximately $396,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. purchased a new position in Coinbase Global in the 1st quarter valued at $30,000. S Bank Fund Management Ltd acquired a new position in Coinbase Global in the 1st quarter valued at $31,000. SouthState Corp raised its position in Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock worth $32,000 after buying an additional 104 shares during the last quarter. Finally, NBT Bank N A NY purchased a new position in Coinbase Global during the 1st quarter worth $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Redburn Partners set a $417.00 price target on shares of Coinbase Global in a research note on Friday. Sanford C. Bernstein boosted their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Rosenblatt Securities reissued a "buy" rating and set a $470.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Barclays lifted their price target on Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $367.27.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $386.07 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $99.20 billion, a P/E ratio of 37.34 and a beta of 3.68. The firm has a 50-day moving average price of $323.75 and a two-hundred day moving average price of $283.48. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,756 shares of Coinbase Global stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $300.52, for a total transaction of $527,713.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 4,675 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the completion of the transaction, the chief financial officer directly owned 89,220 shares of the company's stock, valued at $28,750,252.80. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 739,515 shares of company stock valued at $280,933,525. 23.43% of the stock is owned by company insiders.

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.

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