H&H Retirement Design & Management INC Makes New Investment in Coinbase Global, Inc. $COIN

Key Points

• H&H Retirement Design & Management INC has purchased a new position in Coinbase Global, acquiring 1,200 shares valued at approximately $421,000.
• Coinbase reported disappointing quarterly earnings with an EPS of $0.12, missing analyst estimates of $0.91, and had a revenue of $1.50 billion, below the expected $1.68 billion.
• Recent analyst price targets for Coinbase Global vary significantly, with estimates ranging from $300 to $510, indicating a mixed outlook among investment firms.

H&H Retirement Design & Management INC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,200 shares of the cryptocurrency exchange's stock, valued at approximately $421,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new position in Coinbase Global during the 1st quarter valued at $30,000. S Bank Fund Management Ltd acquired a new stake in shares of Coinbase Global during the 1st quarter valued at approximately $31,000. SouthState Corp raised its position in shares of 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 purchasing an additional 104 shares during the period. Finally, NBT Bank N A NY bought a new position in Coinbase Global in the 1st quarter worth about $33,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 2.7%

COIN opened at $375.78 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The stock has a fifty day moving average of $323.84 and a 200-day moving average of $284.12. The company has a market capitalization of $96.55 billion, a P/E ratio of 36.34 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly 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). 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 analyst estimates of $1.68 billion. During the same period last year, the firm earned $0.14 EPS. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on COIN. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a research note on Friday. JMP Securities lifted their target price on Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. HC Wainwright restated a "sell" rating and set a $300.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Sanford C. Bernstein lifted their target price on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Finally, Jefferies Financial Group boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus target price of $367.27.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 82,328 shares of the company's stock, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $209,279.62. This represents a 99.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 739,515 shares of company stock valued at $280,933,525. 23.43% of the stock is owned by company insiders.

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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