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

Thurston Springer Miller Herd & Titak Inc. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, HoldingsChannel reports. The fund bought 940 shares of the cryptocurrency exchange’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salem Investment Counselors Inc. boosted its holdings in Coinbase Global by 162.9% during the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after buying an additional 114 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after buying an additional 33,240 shares in the last quarter. Paragon Capital Management Ltd boosted its holdings in Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after buying an additional 85,573 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Coinbase Global by 93.5% during the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after buying an additional 7,148 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after buying an additional 9,564 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent research reports. HC Wainwright reduced their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Friday. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday. Finally, Bank of America reduced their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $248.38.

Coinbase Global Trading Up 2.5 %

COIN traded up $4.70 during trading on Tuesday, hitting $194.17. 7,032,250 shares of the company’s stock were exchanged, compared to its average volume of 11,278,768. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48. The stock has a 50 day moving average price of $233.56 and a 200 day moving average price of $215.78. The firm has a market cap of $47.68 billion, a P/E ratio of 38.76 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. 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 firm earned ($0.42) earnings per share. Coinbase Global’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 17,444 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $239.07, for a total transaction of $4,170,337.08. Following the completion of the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $17,020,588.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 17,444 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $239.07, for a total transaction of $4,170,337.08. Following the completion of the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $17,020,588.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 16,456 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the transaction, the insider now directly owns 16,140 shares of the company’s stock, valued at $3,604,707.60. The disclosure for this sale can be found here. In the last three months, insiders sold 258,601 shares of company stock valued at $56,091,678. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.