SeaCrest Wealth Management LLC Takes Position in Coinbase Global, Inc. $COIN

Key Points

• SeaCrest Wealth Management LLC acquired 1,568 shares of Coinbase Global, Inc., valued at approximately $550,000, in the second quarter of this year.
• Coinbase's shares have seen significant investment from various institutional investors, with Vanguard Group Inc. and Groupama Asset Management both increasing their holdings substantially in the first quarter.
• The stock currently has an average rating of "Hold" among analysts, with a consensus target price of $356.18 following various rating adjustments from firms like Citigroup and Canaccord Genuity.

SeaCrest Wealth Management LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,568 shares of the cryptocurrency exchange's stock, valued at approximately $550,000.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COIN shares. Canaccord Genuity Group reiterated a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Citigroup increased their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. HC Wainwright reaffirmed a "sell" rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Piper Sandler restated a "neutral" rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Erste Group Bank started coverage on Coinbase Global in a research note on Wednesday, July 23rd. They issued a "buy" rating on the stock. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $356.18.

Coinbase Global Stock Down 0.2%

COIN opened at $342.46 on Monday. The business has a 50-day moving average of $336.66 and a 200-day moving average of $271.81. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a market capitalization of $87.99 billion, a PE ratio of 33.12 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 posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share 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 the consensus estimate of $1.68 billion. During the same quarter last year, the business earned $0.14 earnings per share. Coinbase Global's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 1,202,515 shares of company stock valued at $448,306,941. Company insiders own 23.43% of the company's stock.

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.

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