D.A. Davidson & CO. Purchases 1,239 Shares of Coinbase Global, Inc. $COIN

D.A. Davidson & CO. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,996 shares of the cryptocurrency exchange's stock after acquiring an additional 1,239 shares during the quarter. D.A. Davidson & CO.'s holdings in Coinbase Global were worth $5,606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COIN. GAMMA Investing LLC lifted its stake in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after buying an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Coinbase Global by 40.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange's stock valued at $2,213,000 after buying an additional 3,695 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Coinbase Global by 23.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 37,869 shares of the cryptocurrency exchange's stock valued at $6,522,000 after buying an additional 7,073 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Coinbase Global by 60.7% in the first quarter. Oppenheimer & Co. Inc. now owns 16,724 shares of the cryptocurrency exchange's stock valued at $2,880,000 after buying an additional 6,315 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Coinbase Global by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 73,643 shares of the cryptocurrency exchange's stock valued at $12,684,000 after buying an additional 3,818 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares in the company, valued at $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 over the last ninety days. Insiders own 17.65% of the company's stock.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. HC Wainwright reaffirmed a "sell" rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. Compass Point lifted their price target on shares of Coinbase Global from $248.00 to $277.00 and gave the company a "sell" rating in a research note on Monday. Rothschild Redb upgraded shares of Coinbase Global from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, Needham & Company LLC lifted their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average price target of $376.09.

Coinbase Global Price Performance

NASDAQ COIN opened at $322.76 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a market capitalization of $82.93 billion, a PE ratio of 31.21 and a beta of 3.68. The firm's 50 day moving average is $328.89 and its 200-day moving average is $297.17.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.

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