Parallel Advisors LLC Acquires 5,402 Shares of Coinbase Global, Inc. $COIN

Parallel Advisors LLC raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 102.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,665 shares of the cryptocurrency exchange's stock after acquiring an additional 5,402 shares during the quarter. Parallel Advisors LLC's holdings in Coinbase Global were worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in COIN. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the period. ARK Investment Management LLC lifted its holdings in Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock valued at $528,592,000 after buying an additional 34,462 shares in the last quarter. Groupama Asset Managment boosted its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after buying an additional 1,500,000 shares during the period. Amundi grew its stake in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock worth $268,850,000 after acquiring an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Coinbase Global by 0.6% during the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange's stock worth $224,318,000 after acquiring an additional 7,675 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 1.2%

Shares of NASDAQ COIN opened at $327.02 on Tuesday. The business has a fifty day moving average price of $340.07 and a 200 day moving average price of $268.46. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The stock has a market capitalization of $84.02 billion, a P/E ratio of 31.63 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly 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 firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on COIN shares. Compass Point reiterated a "sell" rating and issued a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. HC Wainwright reiterated a "sell" rating and issued a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. JMP Securities increased their price target 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. Needham & Company LLC lifted their price objective on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group increased their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $352.72.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $302.19, for a total value of $7,554,750.00. Following the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $158,951.94. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,173,050 shares of company stock worth $438,728,761. 23.43% of the stock is currently 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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