Cooper Financial Group Takes $270,000 Position in Coinbase Global, Inc. $COIN

Key Points

• Cooper Financial Group acquired a new position in Coinbase Global, Inc. with a purchase of 770 shares valued at approximately $270,000 during the second quarter.
• Insider selling has been notable, with CEO Brian Armstrong selling 198,300 shares valued at $78.9 million this July, resulting in a dramatic reduction in his ownership.
• Analysts generally maintain a positive outlook on Coinbase Global, with a consensus rating of "Hold" and an average target price of $359.49.

Cooper Financial Group purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 770 shares of the cryptocurrency exchange's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after acquiring an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the 1st quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new stake in Coinbase Global during the 1st quarter worth approximately $31,000. SouthState Corp increased its holdings in Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, NBT Bank N A NY bought a new stake in Coinbase Global during the 1st quarter worth approximately $33,000. Institutional investors own 68.84% of the company's stock.

Insider Activity

In related news, insider Paul Grewal sold 15,439 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. This trade represents a 15.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at approximately $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 714,515 shares of company stock valued at $272,046,775. 17.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Williams Trading set a $405.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Erste Group Bank began coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They set a "buy" rating on the stock. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research note on Monday, August 4th. Finally, Jefferies Financial Group boosted their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and an average target price of $359.49.

Coinbase Global Trading Up 7.5%

Shares of COIN opened at $372.07 on Friday. The stock has a market capitalization of $95.60 billion, a P/E ratio of 35.98 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $323.85 and a two-hundred day simple moving average of $279.47. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.

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