Dover Advisors LLC Acquires New Holdings in Coinbase Global, Inc. $COIN

Key Points

• Dover Advisors LLC has acquired a new stake in Coinbase Global, purchasing 1,074 shares valued at approximately $376,000 during the second quarter.
• Coinbase's CEO, Brian Armstrong, recently sold 25,000 shares at an average price of $302.19, significantly reducing his holdings by 97.94%.
• Several analysts have revised their price targets for Coinbase, with Barclays increasing its target from $352 to $365, reflecting a generally optimistic outlook on the stock.

Dover Advisors LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,074 shares of the cryptocurrency exchange's stock, valued at approximately $376,000.

Several other institutional investors also recently bought and sold shares of COIN. Envestnet Asset Management Inc. grew its holdings in Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock worth $8,861,000 after purchasing an additional 9,952 shares during the last quarter. Amalgamated Bank grew its holdings in Coinbase Global by 4.8% in the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock worth $2,368,000 after purchasing an additional 629 shares during the last quarter. GAMMA Investing LLC grew its holdings in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after purchasing an additional 84 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Coinbase Global by 124.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock worth $453,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in Coinbase Global by 87.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after purchasing an additional 1,561 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $302.19, for a total value of $7,554,750.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $158,951.94. This trade represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $300.52, for a total transaction of $527,713.12. The disclosure for this sale can be found here. Insiders have sold 1,173,050 shares of company stock valued at $438,728,761 in the last quarter. Corporate insiders own 23.43% of the company's stock.

Coinbase Global Stock Down 0.3%

Shares of NASDAQ COIN opened at $323.04 on Monday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The stock has a market cap of $83.00 billion, a PE ratio of 31.24 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $340.68 and a 200 day moving average of $267.68.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COIN shares. Barclays lifted their price target on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Benchmark boosted their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a report on Monday, June 23rd. China Renaissance began coverage on shares of Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price objective on the stock. Needham & Company LLC boosted 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. Finally, Oppenheimer reissued an "outperform" rating and set a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $352.72.

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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