2,452 Shares in Coinbase Global, Inc. $COIN Purchased by Wealthedge Investment Advisors LLC

Key Points

• Wealthedge Investment Advisors LLC acquired 2,452 shares of Coinbase Global, valued at approximately $422,000, during the first quarter.
• Coinbase reported $1.50 billion in revenue for the quarter, missing analysts' expectations and showing a 3.3% year-over-year revenue increase.
• Insider transactions include CEO Brian Armstrong selling 25,000 shares, representing a 97.94% decrease in his ownership position.

Wealthedge Investment Advisors LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,452 shares of the cryptocurrency exchange's stock, valued at approximately $422,000.

Other hedge funds also recently modified their holdings of the company. Townsquare Capital LLC grew its position in Coinbase Global by 12.0% during the fourth quarter. Townsquare Capital LLC now owns 5,308 shares of the cryptocurrency exchange's stock valued at $1,318,000 after buying an additional 570 shares during the period. Mariner LLC increased its stake in shares of Coinbase Global by 9.3% during the 4th quarter. Mariner LLC now owns 80,219 shares of the cryptocurrency exchange's stock worth $19,920,000 after purchasing an additional 6,798 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $522,000. Belpointe Asset Management LLC bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $282,000. Finally, Regal Investment Advisors LLC purchased a new position in Coinbase Global in the fourth quarter valued at approximately $257,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC raised their target price on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Barclays increased their target price on Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a research report on Friday. Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Sanford C. Bernstein raised their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $352.72.

Coinbase Global Trading Down 4.2%

Shares of NASDAQ COIN traded down $13.6030 during trading hours on Tuesday, hitting $307.1270. The company's stock had a trading volume of 4,717,812 shares, compared to its average volume of 11,558,823. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The business has a 50-day simple moving average of $341.25 and a 200-day simple moving average of $261.16. The stock has a market cap of $78.91 billion, a price-to-earnings ratio of 29.75 and a beta of 3.70. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company posted $0.14 EPS. Coinbase Global's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $326.71, for a total transaction of $8,167,750.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $171,849.46. This trade represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,185,704 shares of company stock worth $438,918,732 over the last 90 days. Insiders own 23.43% of the company's stock.

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.