Spartan Wealth Advisory Services LLC Purchases Shares of 7,059 Coinbase Global, Inc. $COIN

Key Points

• Spartan Wealth Advisory Services disclosed a new first-quarter stake in Coinbase Global, buying 7,059 shares worth about $1.23 million.
• Coinbase continues to attract heavy institutional interest, with hedge funds and other investors owning 68.84% of the stock, even as some insiders have sold shares recently.
• Wall Street remains mixed on COIN: analysts have a consensus Hold rating with an average price target of $245.39, while recent earnings missed expectations and revenue fell 30.5% year over year.

Spartan Wealth Advisory Services LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,059 shares of the cryptocurrency exchange's stock, valued at approximately $1,233,000.

A number of other large investors have also modified their holdings of COIN. MV Capital Management Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Palisade Asset Management LLC purchased a new stake in Coinbase Global during the 3rd quarter worth approximately $29,000. Osbon Capital Management LLC purchased a new stake in Coinbase Global during the 4th quarter worth approximately $30,000. Archer Investment Corp increased its stake in Coinbase Global by 546.4% during the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange's stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. Finally, Brooklands Fund Management Ltd acquired a new position in Coinbase Global during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COIN shares. Robert W. Baird decreased their price target on shares of Coinbase Global from $160.00 to $142.00 and set a "neutral" rating for the company in a report on Friday, June 5th. Wedbush set a $224.00 target price on Coinbase Global in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Coinbase Global from $252.00 to $290.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Wolfe Research set a $325.00 target price on Coinbase Global in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein lowered their price target on Coinbase Global from $440.00 to $330.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $245.39.

Coinbase Global Stock Performance

NASDAQ COIN opened at $157.12 on Monday. Coinbase Global, Inc. has a 1 year low of $139.18 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market capitalization of $41.39 billion, a PE ratio of 59.07, a P/E/G ratio of 10.14 and a beta of 3.35. The company has a fifty day moving average of $170.41 and a 200 day moving average of $186.74.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business's quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. Research analysts forecast that Coinbase Global, Inc. will post 1.41 earnings per share for the current year.

Key Headlines Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here's What It Means for the Stock.

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the transaction, the insider directly owned 517 shares in the company, valued at approximately $97,718.17. This trade represents a 92.75% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,627 shares of company stock valued at $5,327,841 in the last three months. 16.66% of the stock is currently owned by insiders.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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