1,360 Shares in Coinbase Global, Inc. $COIN Bought by Koshinski Asset Management Inc.

Key Points

• Koshinski Asset Management Inc. purchased 1,360 shares of Coinbase Global, valued at approximately $477,000, in the second quarter.
• More than 68% of Coinbase's stock is currently owned by institutional investors and hedge funds, with various firms recently increasing their holdings.
• Coinbase's CEO, Brian Armstrong, sold 25,000 shares, significantly reducing his stake in the company by nearly 98%.

Koshinski Asset Management Inc. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,360 shares of the cryptocurrency exchange's stock, valued at approximately $477,000.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock worth $8,861,000 after purchasing an additional 9,952 shares during the period. Amalgamated Bank lifted its holdings in shares of Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock worth $2,368,000 after purchasing an additional 629 shares during the period. Kera Capital Partners Inc. lifted its holdings in shares of Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange's stock worth $12,954,000 after purchasing an additional 1,085 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange's stock worth $3,738,000 after purchasing an additional 5,402 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after purchasing an additional 84 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on COIN shares. Compass Point raised their target price on Coinbase Global from $248.00 to $277.00 and gave the company a "sell" rating in a report on Monday. Piper Sandler reissued a "neutral" rating and issued a $350.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Bank of America reduced their target price on Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Monness Crespi & Hardt downgraded Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods reduced their target price on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $369.01.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at approximately $186,977.22. This trade represents a 97.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the sale, the insider owned 82,328 shares of the company's stock, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 205,657 shares of company stock valued at $67,479,576 in the last 90 days. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 2.3%

NASDAQ:COIN opened at $343.78 on Tuesday. The company has a market capitalization of $88.33 billion, a PE ratio of 33.25 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The stock has a fifty day simple moving average of $328.75 and a 200-day simple moving average of $295.56.

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

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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