Huntleigh Advisors Inc. Takes $2.15 Million Position in Coinbase Global, Inc. $COIN

Key Points

• Huntleigh Advisors Inc. acquired a new stake in Coinbase Global, investing approximately $2.15 million to purchase 6,126 shares during the second quarter.
• Insider trading activity revealed that Paul Grewal, an insider, sold 10,000 shares at $345.88, reducing their stake by 10.83%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Coinbase Global, with an average target price of $367.94.

Huntleigh Advisors Inc. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,126 shares of the cryptocurrency exchange's stock, valued at approximately $2,147,000.

A number of other institutional investors and hedge funds have also modified their holdings of COIN. Chevy Chase Trust Holdings LLC purchased a new position in Coinbase Global in the second quarter valued at about $39,137,000. Oriental Harbor Investment Master Fund purchased a new position in Coinbase Global in the second quarter valued at about $54,980,000. Nordea Investment Management AB grew its stake in Coinbase Global by 16.3% in the second quarter. Nordea Investment Management AB now owns 17,491 shares of the cryptocurrency exchange's stock valued at $6,179,000 after purchasing an additional 2,456 shares in the last quarter. Praxis Investment Management Inc. grew its stake in Coinbase Global by 37.4% in the second quarter. Praxis Investment Management Inc. now owns 4,480 shares of the cryptocurrency exchange's stock valued at $1,570,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Activest Wealth Management grew its stake in Coinbase Global by 2.1% in the second quarter. Activest Wealth Management now owns 3,178 shares of the cryptocurrency exchange's stock valued at $1,114,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at $28,475,608.64. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total value of $1,515,404.00. Following the sale, the chief financial officer owned 84,820 shares of the company's stock, valued at approximately $29,212,856.20. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,657 shares of company stock worth $67,479,576 in the last 90 days. 17.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on COIN shares. Weiss Ratings restated a "hold (c)" rating on shares of Coinbase Global in a research note on Tuesday. Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. JMP Securities boosted their target price on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Benchmark boosted their target price on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Rothschild Redb upgraded Coinbase Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $367.94.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $336.02 on Friday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The business has a 50-day moving average of $328.26 and a two-hundred day moving average of $292.66. The stock has a market capitalization of $86.34 billion, a P/E ratio of 32.50 and a beta of 3.68. 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 announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm earned $0.14 EPS. Coinbase Global's quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS 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.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.