Chesapeake Capital Corp IL Sells 1,897 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Chesapeake Capital Corp IL decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 51.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,794 shares of the cryptocurrency exchange’s stock after selling 1,897 shares during the period. Chesapeake Capital Corp IL’s holdings in Coinbase Global were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Geneos Wealth Management Inc. increased its stake in shares of Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Mather Group LLC. bought a new position in Coinbase Global during the 1st quarter worth $32,000. Crewe Advisors LLC lifted its holdings in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $155.05 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $209.39 and its two-hundred day simple moving average is $224.24. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The stock has a market capitalization of $38.53 billion, a P/E ratio of 30.95 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company posted ($0.42) EPS. Coinbase Global’s revenue for the quarter was up 104.8% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 4.28 EPS for the current year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $115,883.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the sale, the chief operating officer now owns 207,471 shares in the company, valued at approximately $51,071,061.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. The disclosure for this sale can be found here. Insiders sold a total of 111,562 shares of company stock worth $23,241,279 over the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Compass Point dropped their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Finally, The Goldman Sachs Group decreased their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $246.06.

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.