Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its holdings in Coinbase Global, owning 7,211 shares valued at approximately $1.24 million, reflecting a 110.2% boost during the 1st quarter.
• Analyst ratings for Coinbase Global are mixed, with a consensus rating of "Hold" and a target price of $344.55, while several firms have set varied price targets, ranging from $300.00 to $510.00.
• Coinbase Global's stock has seen significant insider selling, including a sale by CEO Brian Armstrong of over 336,000 shares, resulting in a drastic decrease of their ownership stake.

Avantax Advisory Services Inc. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 110.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,211 shares of the cryptocurrency exchange's stock after purchasing an additional 3,781 shares during the period. Avantax Advisory Services Inc.'s holdings in Coinbase Global were worth $1,242,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Two Sigma Advisers LP boosted its position in shares of Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after buying an additional 333,600 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 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 purchasing an additional 302,595 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after acquiring an additional 295,313 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $243,118,000 after acquiring an additional 222,789 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after acquiring an additional 218,400 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction dated 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 trade represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, 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 90 days, insiders have sold 1,208,340 shares of company stock valued at $439,997,456. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Stock Down 16.7%

COIN stock traded down $63.07 during midday trading on Friday, hitting $314.69. The company's stock had a trading volume of 31,265,570 shares, compared to its average volume of 12,904,831. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The firm has a 50-day simple moving average of $327.63 and a 200-day simple moving average of $259.64. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $79.89 billion, a P/E ratio of 30.43, a PEG ratio of 21.92 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data 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). Coinbase Global had a net margin of 40.87% and a return on equity of 16.95%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Monness Crespi & Hardt lowered Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Rosenblatt Securities reiterated a "buy" rating and set a $470.00 target price on shares of Coinbase Global in a report on Friday. Benchmark lifted their price target on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. William Blair initiated coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating on the stock. Finally, Cantor Fitzgerald began coverage on Coinbase Global in a report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $344.55.

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.