Arete Wealth Advisors LLC Has $1.49 Million Stock Holdings in Coinbase Global, Inc. $COIN

Key Points

• Arete Wealth Advisors LLC has increased its holdings in Coinbase Global, Inc. by 38.8% during the first quarter, owning 8,670 shares valued at approximately $1.49 million.
• Coinbase Global reported a net revenue of $1.50 billion for the last quarter, which fell short of analysts' expectations, as earnings per share were $0.12 compared to a consensus estimate of $0.91.
• Recent analyst ratings reflect a mixed outlook, with several firms issuing buy ratings and price targets ranging between $270.00 and $470.00 for Coinbase stock.

Arete Wealth Advisors LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 38.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,670 shares of the cryptocurrency exchange's stock after acquiring an additional 2,423 shares during the period. Arete Wealth Advisors LLC's holdings in Coinbase Global were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in COIN. Baird Financial Group Inc. lifted its stake in Coinbase Global by 320.1% in the 4th quarter. Baird Financial Group Inc. now owns 9,154 shares of the cryptocurrency exchange's stock valued at $2,273,000 after purchasing an additional 6,975 shares during the last quarter. Captrust Financial Advisors lifted its stake in Coinbase Global by 3.0% in the 4th quarter. Captrust Financial Advisors now owns 4,323 shares of the cryptocurrency exchange's stock valued at $1,073,000 after purchasing an additional 125 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in Coinbase Global by 31.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 39,215 shares of the cryptocurrency exchange's stock valued at $9,737,000 after purchasing an additional 9,351 shares during the last quarter. Focus Partners Wealth lifted its stake in Coinbase Global by 122.8% in the 4th quarter. Focus Partners Wealth now owns 4,735 shares of the cryptocurrency exchange's stock valued at $1,202,000 after purchasing an additional 2,610 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new position in Coinbase Global in the 4th quarter valued at approximately $446,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Trading Up 1.0%

Shares of COIN stock opened at $302.20 on Tuesday. The company has a market cap of $77.65 billion, a P/E ratio of 29.23 and a beta of 3.68. The stock has a 50 day simple moving average of $343.07 and a two-hundred day simple moving average of $264.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share 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 the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In related news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. The trade was a 99.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 1,205,871 shares of company stock worth $447,047,776. 23.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $470.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. JMP Securities lifted their price target on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Needham & Company LLC lifted their price target on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Monness Crespi & Hardt cut shares of Coinbase Global from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and an average price target of $352.72.

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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