Sloy Dahl & Holst LLC Purchases 12,122 Shares of Coinbase Global, Inc. $COIN

Key Points

• Sloy Dahl & Holst LLC increased its stake in Coinbase Global by 12.9% during the second quarter, now holding 106,213 shares valued at approximately $37.2 million.
• Insider transactions revealed that both CEO Brian Armstrong and Lawrence J. Brock sold significant amounts of Coinbase stock recently, with Armstrong selling 25,000 shares for nearly $8.9 million.
• Coinbase's stock has fluctuated between a 12-month low of $142.58 and a high of $444.64, with a current market cap of $82.31 billion.

Sloy Dahl & Holst LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,213 shares of the cryptocurrency exchange's stock after acquiring an additional 12,122 shares during the quarter. Coinbase Global makes up 5.2% of Sloy Dahl & Holst LLC's portfolio, making the stock its 3rd biggest position. Sloy Dahl & Holst LLC's holdings in Coinbase Global were worth $37,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of COIN. Bessemer Group Inc. grew its position in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after acquiring an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Coinbase Global in the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the 2nd quarter valued at about $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global in the 1st quarter valued at about $31,000. Finally, SouthState Corp grew its position in Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock valued at $32,000 after buying an additional 104 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global 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 transaction, the insider directly owned 478 shares of the company's stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $186,977.22. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 205,657 shares of company stock valued at $67,479,576 over the last ninety days. 17.65% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on COIN. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a research report on Friday, October 3rd. Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Wall Street Zen raised shares of Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Bank of America reduced their price objective on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Finally, Needham & Company LLC upped their target price on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $376.09.

Coinbase Global Trading Down 5.4%

Shares of COIN stock opened at $320.33 on Thursday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. 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's 50 day moving average is $328.93 and its two-hundred day moving average is $296.02. The company has a market cap of $82.31 billion, a PE ratio of 30.98 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $0.14 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global Company 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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