Brown Wealth Management LLC Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Brown Wealth Management LLC increased its stake in Coinbase Global, Inc. by 470.2% during the first quarter, bringing their total holdings to 5,166 shares valued at approximately $890,000.
• Several institutional investors, including Mediolanum International Funds Ltd and Cetera Investment Advisers, also significantly boosted their positions in Coinbase by 226.5% and 81.6% respectively during the same period.
• Insider trading activity showed that CFO Alesia J. Haas and CEO Brian Armstrong sold a combined total of nearly $80 million in shares, indicating a significant decrease in their ownership stakes.

Brown Wealth Management LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 470.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,166 shares of the cryptocurrency exchange's stock after purchasing an additional 4,260 shares during the period. Brown Wealth Management LLC's holdings in Coinbase Global were worth $890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. HB Wealth Management LLC lifted its position in Coinbase Global by 43.1% during the first quarter. HB Wealth Management LLC now owns 2,203 shares of the cryptocurrency exchange's stock valued at $379,000 after purchasing an additional 663 shares in the last quarter. Mediolanum International Funds Ltd raised its holdings in Coinbase Global by 226.5% during the first quarter. Mediolanum International Funds Ltd now owns 32,336 shares of the cryptocurrency exchange's stock valued at $5,624,000 after acquiring an additional 22,432 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Coinbase Global by 6.0% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 40,054 shares of the cryptocurrency exchange's stock valued at $6,898,000 after acquiring an additional 2,280 shares during the period. Assetmark Inc. raised its holdings in Coinbase Global by 124.8% during the first quarter. Assetmark Inc. now owns 8,220 shares of the cryptocurrency exchange's stock valued at $1,416,000 after acquiring an additional 4,563 shares during the period. Finally, Cetera Investment Advisers raised its holdings in Coinbase Global by 81.6% during the first quarter. Cetera Investment Advisers now owns 68,274 shares of the cryptocurrency exchange's stock valued at $11,759,000 after acquiring an additional 30,669 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Alesia J. Haas sold 3,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the sale, the chief financial officer owned 97,366 shares in the company, valued at approximately $35,071,233.20. This represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the sale, the chief executive officer owned 526 shares of the company's stock, valued at approximately $209,279.62. This represents a 99.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,208,340 shares of company stock worth $439,997,456. Insiders own 17.65% of the company's stock.

Coinbase Global Stock Down 1.3%

Shares of NASDAQ:COIN opened at $391.66 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The business has a 50 day simple moving average of $317.61 and a two-hundred day simple moving average of $255.95. The firm has a market capitalization of $99.43 billion, a PE ratio of 73.34, a price-to-earnings-growth ratio of 30.24 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 EPS. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. HC Wainwright reissued a "sell" rating and set a $300.00 price target (down from $305.00) on shares of Coinbase Global in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price target on the stock. Cantor Fitzgerald began coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Finally, Citigroup reaffirmed an "outperform" rating on shares of Coinbase Global in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $320.06.

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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