Perennial Investment Advisors LLC Purchases 394 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Perennial Investment Advisors LLC grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 34.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,536 shares of the cryptocurrency exchange’s stock after buying an additional 394 shares during the period. Perennial Investment Advisors LLC’s holdings in Coinbase Global were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COIN. Fifth Third Bancorp lifted its holdings in Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after purchasing an additional 55 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Coinbase Global by 12.1% in the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after buying an additional 57 shares during the period. Capital Advisors Wealth Management LLC grew its stake in Coinbase Global by 4.6% in the 2nd quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock valued at $314,000 after buying an additional 62 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 0.6 %

COIN opened at $162.45 on Wednesday. The business’s fifty day simple moving average is $201.87 and its 200 day simple moving average is $222.80. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a market cap of $39.89 billion, a PE ratio of 32.43 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 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) earnings per share. As a group, research analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on COIN. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $206.00 to $169.00 in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Bank of America reduced their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Compass Point lowered their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $246.06.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares in the company, valued at approximately $15,623,742.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the sale, the chief operating officer now directly owns 194,971 shares in the company, valued at approximately $45,428,243. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at $15,623,742.75. The disclosure for this sale can be found here. Insiders have sold 111,562 shares of company stock worth $23,115,399 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global 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.