1,013 Shares in Coinbase Global, Inc. $COIN Bought by Aaron Wealth Advisors LLC

Key Points

• Aaron Wealth Advisors LLC purchased a new stake in Coinbase Global, acquiring 1,013 shares valued at approximately $355,000 during the 2nd quarter.
• Coinbase Global reported a net margin of 40.87% for the quarter, with revenue of $1.50 billion, which was below analyst estimates of $1.68 billion.
• Analyst ratings for Coinbase Global show a consensus of "Hold", with target prices ranging from $268.00 to $505.00, indicating varied perspectives on the stock's future performance.

Aaron Wealth Advisors LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,013 shares of the cryptocurrency exchange's stock, valued at approximately $355,000.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in 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 buying an additional 9,952 shares during the last quarter. Amalgamated Bank boosted its stake in Coinbase Global by 4.8% in the first 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 during the last quarter. Kera Capital Partners Inc. grew its position in shares of Coinbase Global by 3.0% during 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 during the period. Parallel Advisors LLC increased its stake in shares of Coinbase Global by 102.6% during the 2nd 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 last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Coinbase Global by 8.1% during the 1st 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 last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

NASDAQ:COIN traded down $10.51 during trading hours on Monday, hitting $331.95. The stock had a trading volume of 8,694,083 shares, compared to its average volume of 8,040,793. The company has a 50 day simple moving average of $335.42 and a two-hundred day simple moving average of $272.61. The firm has a market capitalization of $85.29 billion, a price-to-earnings ratio of 32.10 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, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the business posted $0.14 EPS. The company's quarterly revenue was up 3.3% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,202,515 shares of company stock worth $448,306,941 over the last ninety days. 23.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COIN. Keefe, Bruyette & Woods dropped their price objective on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. Piper Sandler restated a "neutral" rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. JMP Securities increased their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Needham & Company LLC boosted their price objective on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average price target of $356.18.

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.