Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Cowen AND Company LLC

Cowen AND Company LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,488,975 shares of the cryptocurrency exchange’s stock after acquiring an additional 22,071 shares during the quarter. Coinbase Global makes up approximately 9.2% of Cowen AND Company LLC’s portfolio, making the stock its 3rd biggest position. Cowen AND Company LLC owned 0.61% of Coinbase Global worth $330,895,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of COIN. Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth $27,000. Crewe Advisors LLC lifted its position in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global during the 2nd quarter valued at approximately $29,000. Concord Wealth Partners increased its holdings in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 5.8 %

Shares of COIN traded up $8.49 during trading hours on Monday, reaching $155.84. 1,436,414 shares of the stock traded hands, compared to its average volume of 10,657,979. 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 company has a market cap of $38.72 billion, a price-to-earnings ratio of 31.11 and a beta of 3.36. The stock has a fifty day simple moving average of $210.96 and a 200 day simple moving average of $224.35. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on 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 decreased their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $246.06.

Insider Activity

In other news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the 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 transaction, the insider now directly owns 71,195 shares in the company, valued at $15,623,742.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,562 shares of company stock valued at $23,241,279. Corporate 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.