Koss Olinger Consulting LLC Acquires Shares of 4,264 Coinbase Global, Inc. (NASDAQ:COIN)

Koss Olinger Consulting LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent filing with the SEC. The fund bought 4,264 shares of the cryptocurrency exchange’s stock, valued at approximately $948,000.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after acquiring an additional 55 shares during the period. Versant Capital Management Inc increased 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 worth $30,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 57 shares during the period. Capital Advisors Wealth Management LLC lifted its stake in Coinbase Global by 4.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock valued at $314,000 after purchasing an additional 62 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. HC Wainwright lowered their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America lowered their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. One equities 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $246.06.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s 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 sale, the insider now owns 71,195 shares in the company, valued at $15,623,742.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $246.16, for a total transaction of $369,240.00. Following the transaction, the chief operating officer now directly owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,562 shares of company stock worth $23,241,279. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 7.7 %

Shares of NASDAQ COIN opened at $147.35 on Friday. The stock has a market capitalization of $36.18 billion, a P/E ratio of 29.41 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The firm’s 50 day simple moving average is $210.96 and its two-hundred day simple moving average is $223.91.

Coinbase Global (NASDAQ:COIN) last released 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). The business 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% on a year-over-year basis. During the same period in the prior year, the business posted ($0.42) EPS. As a group, analysts expect that Coinbase Global, Inc. will post 4.28 EPS for the current fiscal year.

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.