Capital Advisors Inc. OK Invests $317,000 in Coinbase Global, Inc. $COIN

Key Points

• Capital Advisors Inc. OK invested approximately $317,000 in Coinbase Global, acquiring 904 shares in the 2nd quarter, reflecting the growing interest from institutional investors in the cryptocurrency exchange.
• Coinbase's stock has received a range of ratings from analysts, including a "neutral" rating with a $350.00 price target from Piper Sandler and an "outperform" rating with a $417.00 target from Oppenheimer, highlighting mixed expectations for the company's future performance.
• Insider selling has occurred recently, with CFO Alesia J. Haas and CEO Brian Armstrong selling significant shares, indicating a 4.98% and 97.94% decrease in their holdings, respectively.

Capital Advisors Inc. OK acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 904 shares of the cryptocurrency exchange's stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COIN. Bessemer Group Inc. boosted its holdings in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the first quarter valued at $30,000. S Bank Fund Management Ltd purchased a new position in Coinbase Global during the first quarter worth about $31,000. SouthState Corp grew its position in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock worth $32,000 after buying an additional 104 shares in the last quarter. Finally, NBT Bank N A NY bought a new position in Coinbase Global in the 1st quarter worth about $33,000. Institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COIN shares. Piper Sandler reiterated a "neutral" rating and set a $350.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Oppenheimer reiterated an "outperform" rating and set a $417.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Compass Point reissued a "sell" rating and issued a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. HC Wainwright restated a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Needham & Company LLC upped their target price on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $367.27.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 4,675 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the completion of the sale, the chief financial officer owned 89,220 shares of the company's stock, valued at approximately $28,750,252.80. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $186,977.22. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 739,515 shares of company stock worth $280,933,525 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $386.07 on Tuesday. 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 52-week low of $142.58 and a 52-week high of $444.64. The company has a fifty day moving average of $323.75 and a 200-day moving average of $283.48. The stock has a market capitalization of $99.20 billion, a price-to-earnings ratio of 37.34 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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 the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.

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