Cerity Partners LLC Buys 2,088 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cerity Partners LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,292 shares of the cryptocurrency exchange's stock after purchasing an additional 2,088 shares during the quarter. Cerity Partners LLC's holdings in Coinbase Global were worth $2,806,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its holdings in shares of Coinbase Global by 23.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock worth $418,000 after acquiring an additional 325 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Coinbase Global by 15.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,430 shares of the cryptocurrency exchange's stock valued at $852,000 after purchasing an additional 461 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Coinbase Global by 10.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock worth $610,000 after purchasing an additional 232 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Coinbase Global by 7.3% in the fourth quarter. Corient Private Wealth LLC now owns 10,042 shares of the cryptocurrency exchange's stock worth $2,493,000 after buying an additional 686 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Coinbase Global by 7.9% during the fourth quarter. Parallel Advisors LLC now owns 3,093 shares of the cryptocurrency exchange's stock valued at $768,000 after buying an additional 226 shares during the period. Institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on COIN. Oppenheimer lifted their price target on shares of Coinbase Global from $395.00 to $417.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Canaccord Genuity Group reissued a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, May 9th. JMP Securities lifted their price objective on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Finally, Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $320.06.

Coinbase Global Trading Up 2.0%

NASDAQ COIN traded up $8.59 on Monday, hitting $428.37. 10,226,678 shares of the stock were exchanged, compared to its average volume of 11,397,512. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The firm has a market capitalization of $108.75 billion, a P/E ratio of 80.22, a P/E/G ratio of 32.00 and a beta of 3.70. The stock has a fifty day moving average price of $302.29 and a two-hundred day moving average price of $251.26.

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

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director owned 10,417 shares of the company's stock, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer owned 526 shares of the company's stock, valued at $190,732.86. The trade was a 99.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,245,915 shares of company stock worth $447,462,456. Insiders own 23.43% of the company's stock.

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.