J.W. Cole Advisors Inc. Acquires 1,632 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

J.W. Cole Advisors Inc. grew its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,923 shares of the cryptocurrency exchange's stock after buying an additional 1,632 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Coinbase Global were worth $848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Covenant Asset Management LLC boosted its holdings in shares of Coinbase Global by 1.8% in the first quarter. Covenant Asset Management LLC now owns 4,713 shares of the cryptocurrency exchange's stock worth $812,000 after buying an additional 83 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Coinbase Global by 12.3% in the first quarter. Kestra Private Wealth Services LLC now owns 20,827 shares of the cryptocurrency exchange's stock worth $3,587,000 after buying an additional 2,275 shares during the period. Impact Partnership Wealth LLC boosted its holdings in shares of Coinbase Global by 118.7% in the first quarter. Impact Partnership Wealth LLC now owns 4,248 shares of the cryptocurrency exchange's stock worth $732,000 after buying an additional 2,306 shares during the period. Formidable Asset Management LLC boosted its holdings in shares of Coinbase Global by 14.3% in the first quarter. Formidable Asset Management LLC now owns 1,521 shares of the cryptocurrency exchange's stock worth $262,000 after buying an additional 190 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Coinbase Global by 78.9% during the first quarter. Private Advisor Group LLC now owns 33,308 shares of the cryptocurrency exchange's stock worth $5,737,000 after purchasing an additional 14,691 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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 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 approximately $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 directly owned 10,417 shares of the company's stock, valued at $2,632,167.56. The trade was a 74.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,208,340 shares of company stock worth $439,997,456 in the last three months. 17.65% of the stock is owned by insiders.

Coinbase Global Trading Down 1.3%

NASDAQ:COIN traded down $5.04 on Friday, hitting $391.66. 8,619,904 shares of the stock were exchanged, compared to its average volume of 13,896,728. The stock has a market capitalization of $99.43 billion, a price-to-earnings ratio of 73.34, a P/E/G ratio of 30.24 and a beta of 3.70. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The company's 50-day moving average price is $317.61 and its 200 day moving average price is $255.95.

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

Analyst Ratings Changes

Several research firms recently commented on COIN. Needham & Company LLC decreased their price target on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. Jefferies Financial Group reaffirmed a "hold" rating and set a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Citigroup reaffirmed an "outperform" rating on shares of Coinbase Global in a research report on Monday, July 14th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a research report on Monday, May 12th. Finally, Sanford C. Bernstein raised their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has a consensus rating of "Moderate Buy" and an average price target of $320.06.

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.