Thurston Springer Miller Herd & Titak Inc. Acquires Shares of 940 Coinbase Global, Inc. (NASDAQ:COIN)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 940 shares of the cryptocurrency exchange’s stock, valued at approximately $209,000.

Other institutional investors have also recently bought and sold shares of the company. Fountainhead AM LLC grew its stake in shares of Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after acquiring an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after acquiring an additional 81 shares during the period. Nilsine Partners LLC lifted its holdings in Coinbase Global by 1.2% during the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after purchasing an additional 81 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after purchasing an additional 86 shares in the last quarter. Finally, Concord Wealth Partners lifted 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 worth $30,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 2.5 %

COIN stock traded up $4.70 on Tuesday, reaching $194.17. 7,032,250 shares of the company traded hands, compared to its average volume of 11,278,768. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $47.68 billion, a P/E ratio of 38.76 and a beta of 3.40. The firm has a fifty day simple moving average of $233.56 and a 200-day simple moving average of $215.78.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS 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 14.72%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business posted ($0.42) earnings per share. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. Research analysts anticipate that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COIN. Piper Sandler increased their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Mizuho raised their price target on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Wedbush raised their price target on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $248.38.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total value of $3,473,870.40. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $988,716.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total value of $293,850.00. Following the transaction, the chief operating officer now directly owns 204,436 shares of the company’s stock, valued at approximately $40,049,012.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total value of $3,473,870.40. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $988,716.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,601 shares of company stock worth $56,091,678. Insiders own 23.43% of the company’s stock.

About Coinbase Global

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.