Benjamin Edwards Inc. Sells 1,169 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Benjamin Edwards Inc. lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 9.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,874 shares of the cryptocurrency exchange's stock after selling 1,169 shares during the quarter. Benjamin Edwards Inc.'s holdings in Coinbase Global were worth $1,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Two Sigma Advisers LP boosted its position in Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares in the last quarter. Wellington Management Group LLP boosted its position in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Coinbase Global by 29.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange's stock valued at $243,118,000 after buying an additional 222,789 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after buying an additional 218,400 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on COIN. Jefferies Financial Group boosted their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. reduced their target price on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Erste Group Bank initiated coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating on the stock. Finally, Compass Point reiterated a "sell" rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $352.18.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global 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 directly owned 526 shares of the company's stock, valued at $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 1,176,221 shares of company stock worth $434,800,609 over the last quarter. Company insiders own 23.43% of the company's stock.

Coinbase Global Trading Up 2.9%

Shares of NASDAQ COIN opened at $319.62 on Tuesday. The company's fifty day moving average is $334.34 and its 200-day moving average is $259.98. The stock has a market cap of $82.12 billion, a price-to-earnings ratio of 30.91 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month 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.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly 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). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. Equities research analysts predict 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.

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