Fiduciary Alliance LLC Has $6.19 Million Stake in Coinbase Global, Inc. $COIN

Key Points

• Fiduciary Alliance LLC increased its stake in Coinbase Global, Inc. by 31.2% during the 2nd quarter, owning 17,669 shares valued at $6.19 million.
• Coinbase reported a net margin of 40.87% and a quarterly revenue of $1.50 billion, which was lower than expected, leading to an EPS miss of $0.79.
• The stock has received varying ratings from analysts, with a consensus rating of "Hold" and a target price averaging $352.72.

Fiduciary Alliance LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 31.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,669 shares of the cryptocurrency exchange's stock after buying an additional 4,202 shares during the quarter. Fiduciary Alliance LLC's holdings in Coinbase Global were worth $6,193,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Connective Portfolio Management LLC bought a new position in Coinbase Global in the 2nd quarter valued at approximately $1,858,000. Westmount Partners LLC grew its holdings in Coinbase Global by 13.0% during the second quarter. Westmount Partners LLC now owns 1,635 shares of the cryptocurrency exchange's stock worth $573,000 after buying an additional 188 shares in the last quarter. Reyes Financial Architecture Inc. lifted its position in shares of Coinbase Global by 22.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 947 shares of the cryptocurrency exchange's stock worth $332,000 after buying an additional 174 shares in the last quarter. Czech National Bank purchased a new position in shares of Coinbase Global in the 2nd quarter worth about $18,132,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Coinbase Global by 225.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 423 shares of the cryptocurrency exchange's stock worth $148,000 after purchasing an additional 293 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COIN shares. William Blair initiated coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating on the stock. Argus began coverage on shares of Coinbase Global in a research report on Monday, July 14th. They issued a "buy" rating and a $400.00 target price on the stock. The Goldman Sachs Group boosted their price objective on Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Citigroup upped their target price on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their target price on Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $352.72.

Coinbase Global Trading Up 1.2%

Shares of NASDAQ COIN opened at $327.02 on Tuesday. The stock has a market capitalization of $84.02 billion, a P/E ratio of 31.63 and a beta of 3.68. The business's 50 day moving average is $340.07 and its two-hundred day moving average is $268.46. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

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

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 1,173,050 shares of company stock valued at $438,728,761. Company insiders own 23.43% of the company's stock.

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.

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