Moss Adams Wealth Advisors LLC Invests $284,000 in Coinbase Global, Inc. $COIN

Key Points

• Moss Adams Wealth Advisors LLC invested approximately $284,000 in Coinbase Global, acquiring 811 shares of the cryptocurrency exchange in the second quarter.
• Coinbase Global's stock has an average target price of $356.18 with a consensus rating of "Hold," while several analysts have set target prices ranging from $300.00 to $400.00.
• The company reported a net margin of 40.87% and earnings of $0.12 EPS for the last quarter, missing analysts' expectations, while revenue was $1.50 billion, slightly below the anticipated $1.68 billion.

Moss Adams Wealth Advisors LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 811 shares of the cryptocurrency exchange's stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. grew its stake in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after purchasing an additional 113 shares in the last quarter. North Star Investment Management Corp. bought a new position in shares of Coinbase Global in the second quarter worth $55,000. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global in the first quarter worth $30,000. S Bank Fund Management Ltd bought a new position in shares of Coinbase Global in the first quarter worth $31,000. Finally, SouthState Corp grew its stake in shares of Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on COIN shares. Mizuho set a $300.00 price target on Coinbase Global in a research note on Thursday, September 18th. Piper Sandler reaffirmed a "neutral" rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods decreased their target price on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research note on Monday, August 4th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $356.18.

Coinbase Global Trading Up 6.8%

Shares of NASDAQ COIN opened at $333.99 on Tuesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market cap of $85.82 billion, a price-to-earnings ratio of 32.30 and a beta of 3.68. 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 business has a fifty day simple moving average of $326.71 and a 200-day simple moving average of $277.31.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS 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 for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the company earned $0.14 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the company's stock in a transaction on 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 completion of the sale, the insider directly owned 478 shares of the company's stock, valued at $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 4,675 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $322.24, for a total value of $1,506,472.00. Following the completion of the sale, the chief financial officer directly owned 89,220 shares of the company's stock, valued at approximately $28,750,252.80. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 724,515 shares of company stock valued at $275,533,175 over the last 90 days. 23.43% of the stock is owned by 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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