Compass Ion Advisors LLC Sells 2,523 Shares of Coinbase Global, Inc. $COIN

Key Points

• Compass Ion Advisors LLC has significantly reduced its stake in Coinbase Global, Inc., selling 2,523 shares and lowering its holdings by 71.2% in the second quarter.
• Wall Street analysts have provided a range of price objectives for COIN, with updates indicating prices from $300.00 to $440.00, while the average rating remains "Hold" with a consensus price target of $356.18.
• In a recent earnings report, Coinbase posted an EPS of $0.12, missing expectations, with quarterly revenue of $1.50 billion, slightly below analyst forecasts.

Compass Ion Advisors LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 71.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,022 shares of the cryptocurrency exchange's stock after selling 2,523 shares during the quarter. Compass Ion Advisors LLC's holdings in Coinbase Global were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the 4th quarter valued at about $26,000. Ameriflex Group Inc. acquired a new position in Coinbase Global in the 4th quarter valued at about $37,000. Bessemer Group Inc. grew its stake 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 buying an additional 113 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in Coinbase Global in the 1st quarter valued at about $30,000. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,675 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $304.52, for a total transaction of $3,045,200.00. Following the sale, the insider directly owned 82,328 shares of the company's stock, valued at approximately $25,070,522.56. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,202,515 shares of company stock worth $448,306,941 in the last 90 days. Corporate insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded down $10.51 on Monday, reaching $331.95. 8,694,083 shares of the stock were exchanged, compared to its average volume of 11,208,327. The firm's 50 day moving average is $336.66 and its 200-day moving average is $271.81. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm has a market cap of $85.29 billion, a PE ratio of 32.10 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company posted $0.14 EPS. The business's revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on COIN shares. JMP Securities upped their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler reiterated a "neutral" rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Keefe, Bruyette & Woods decreased their target price on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Finally, China Renaissance assumed coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $356.18.

Coinbase Global Company 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.