Koss Olinger Consulting LLC Buys Shares of 4,064 Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Koss Olinger Consulting LLC has invested approximately $700,000 in Coinbase Global, acquiring 4,064 shares in the first quarter of the year.
• Coinbase Global recently reported $0.12 earnings per share, falling short of analysts' estimates of $0.91, alongside a net margin of 40.87%.
• Insider sales occurred recently, with CEO Brian Armstrong selling 25,000 shares and another insider, Paul Grewal, selling 10,000 shares, indicating a potential reduction in managerial confidence.

Koss Olinger Consulting LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,064 shares of the cryptocurrency exchange's stock, valued at approximately $700,000.

Several other institutional investors also recently added to or reduced their stakes in COIN. Russell Investments Group Ltd. grew its holdings in shares of Coinbase Global by 36.8% during the 4th quarter. Russell Investments Group Ltd. now owns 25,920 shares of the cryptocurrency exchange's stock worth $6,436,000 after purchasing an additional 6,968 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Coinbase Global by 0.7% during the 4th quarter. Cerity Partners LLC now owns 14,204 shares of the cryptocurrency exchange's stock worth $3,379,000 after purchasing an additional 98 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Coinbase Global by 26.1% during the 4th quarter. Invesco Ltd. now owns 445,736 shares of the cryptocurrency exchange's stock worth $110,676,000 after purchasing an additional 92,371 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Coinbase Global by 11.3% during the 4th quarter. Bank of Nova Scotia now owns 10,090 shares of the cryptocurrency exchange's stock worth $2,506,000 after purchasing an additional 1,024 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of Coinbase Global by 38.4% during the 4th quarter. Advisory Services Network LLC now owns 9,266 shares of the cryptocurrency exchange's stock worth $2,301,000 after purchasing an additional 2,571 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Jefferies Financial Group boosted their price target on Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. William Blair assumed coverage on Coinbase Global in a research note on Wednesday, June 11th. They issued an "outperform" rating on the stock. Williams Trading set a $405.00 price target on Coinbase Global in a research note on Thursday, July 31st. Finally, Argus assumed coverage on Coinbase Global in a research note on Monday, July 14th. They issued a "buy" rating and a $400.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average price target of $352.18.

Insider Activity

In other news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 1,176,221 shares of company stock worth $434,800,609. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 0.9%

Shares of Coinbase Global stock traded up $3.00 during trading on Tuesday, reaching $322.62. 9,901,815 shares of the company were exchanged, compared to its average volume of 11,636,547. The business has a 50-day moving average price of $334.34 and a 200-day moving average price of $259.98. The firm has a market capitalization of $82.89 billion, a price-to-earnings ratio of 31.20 and a beta of 3.70. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Sell-side analysts anticipate 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.