Coinbase Global, Inc. $COIN Shares Sold by Inspire Investing LLC

by · The Markets Daily

Inspire Investing LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 55.0% during the second quarter, HoldingsChannel reports. The firm owned 805 shares of the cryptocurrency exchange’s stock after selling 984 shares during the period. Inspire Investing LLC’s holdings in Coinbase Global were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of COIN. Farther Finance Advisors LLC lifted its stake in shares of Coinbase Global by 44.2% during the first quarter. Farther Finance Advisors LLC now owns 1,390 shares of the cryptocurrency exchange’s stock worth $243,000 after purchasing an additional 426 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after purchasing an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Coinbase Global by 40.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange’s stock worth $2,213,000 after purchasing an additional 3,695 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Coinbase Global by 43.5% during the first quarter. Janney Montgomery Scott LLC now owns 43,236 shares of the cryptocurrency exchange’s stock worth $7,447,000 after purchasing an additional 13,114 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in shares of Coinbase Global in the first quarter worth about $243,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of several recent analyst reports. Needham & Company LLC boosted their price target on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Williams Trading set a $405.00 price target on Coinbase Global in a research note on Thursday, July 31st. Oppenheimer reiterated an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their price target on Coinbase Global from $363.00 to $385.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $367.94.

Read Our Latest Research Report on Coinbase Global

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,515 shares of company stock valued at $65,362,451. 17.65% of the stock is currently owned by insiders.

Coinbase Global Stock Down 1.8%

Shares of Coinbase Global stock opened at $330.25 on Friday. 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 firm has a market cap of $84.85 billion, a P/E ratio of 31.94 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The business has a 50-day moving average price of $327.75 and a 200 day moving average price of $291.54.

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

Coinbase Global Company Profile

(Free Report)

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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Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).