Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its stake in Coinbase Global, Inc. by 55% during the first quarter, totaling 2,565 shares valued at approximately $442,000.
• CEO Brian Armstrong significantly reduced his ownership by selling 336,265 shares, leading to a 99.84% decrease in his position, while insiders sold a total of 1,183,340 shares in the last quarter.
• Coinbase Global's stock price fell 6.3% recently, trading at $297.99, and reported a missed earnings estimate of $0.12 per share against a consensus of $0.91 for the last quarter.

Arkadios Wealth Advisors lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 55.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,565 shares of the cryptocurrency exchange's stock after purchasing an additional 910 shares during the quarter. Arkadios Wealth Advisors' holdings in Coinbase Global were worth $442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in shares of Coinbase Global in the fourth quarter valued at $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the fourth quarter worth $26,000. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after buying an additional 113 shares during the period. NBT Bank N A NY purchased a new position in Coinbase Global during the first quarter worth $33,000. Finally, Berbice Capital Management LLC purchased a new position in Coinbase Global during the first quarter worth $34,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the sale, the director owned 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,183,340 shares of company stock worth $434,983,956. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on COIN shares. Jefferies Financial Group lifted their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Benchmark boosted their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Erste Group Bank assumed coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They set a "buy" rating for the company. Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research note on Monday. Finally, Argus assumed coverage on shares of Coinbase Global in a research note on Monday, July 14th. They set a "buy" rating and a $400.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of "Hold" and an average price target of $352.18.

Coinbase Global Stock Down 6.3%

Shares of COIN traded down $20.18 during mid-day trading on Tuesday, hitting $297.99. 16,799,939 shares of the company traded hands, compared to its average volume of 14,682,992. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $75.65 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 24.46 and a beta of 3.70. The business has a 50 day moving average of $328.73 and a 200 day moving average of $259.54.

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

About Coinbase Global

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.