Focused Wealth Management Inc Makes New $318,000 Investment in Coinbase Global, Inc. $COIN

Key Points

• Focused Wealth Management Inc has invested approximately $318,000 in Coinbase Global, buying 907 shares during the second quarter, indicating increasing institutional interest in the cryptocurrency exchange.
• Insider transactions have recently seen key figures at Coinbase selling significant shares, with over 1.2 million shares sold in the past ninety days, totaling roughly $448 million.
• Wall Street analysts have mixed sentiments towards Coinbase Global, with target prices ranging from $248 to $400, reflecting an average rating of "Hold" based on recent research notes.

Focused Wealth Management Inc bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 907 shares of the cryptocurrency exchange's stock, valued at approximately $318,000.

A number of other hedge funds have also made changes to their positions in COIN. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global in the 4th quarter valued at approximately $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global during the 4th quarter valued at $26,000. Bessemer Group Inc. grew its holdings in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the first quarter worth $30,000. Finally, S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the first quarter worth $31,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00. Following the sale, the insider owned 82,328 shares in the company, valued at approximately $25,070,522.56. The trade was a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares of the company's stock, valued at $148,834.86. This trade represents a 92.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,202,515 shares of company stock valued at $448,306,941. 23.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on COIN shares. Compass Point restated a "sell" rating and issued a $248.00 target price (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Wall Street Zen raised Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. China Renaissance initiated coverage on Coinbase Global in a report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price objective on the stock. Argus initiated coverage on shares of Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price objective on the stock. Finally, Needham & Company LLC boosted their target price on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Coinbase Global has an average rating of "Hold" and an average target price of $356.18.

Coinbase Global Stock Down 3.1%

Shares of COIN opened at $331.95 on Tuesday. 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 company has a 50-day moving average price of $335.42 and a two-hundred day moving average price of $272.61. The stock has a market cap of $85.29 billion, a price-to-earnings ratio of 32.10 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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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