Regal Partners Ltd Has $800,000 Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Regal Partners Ltd lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 60.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,600 shares of the cryptocurrency exchange’s stock after selling 5,500 shares during the period. Regal Partners Ltd’s holdings in Coinbase Global were worth $800,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its stake in Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after purchasing an additional 114 shares during the last quarter. Intech Investment Management LLC grew 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 raised its position in Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after buying an additional 85,573 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Coinbase Global by 130.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in shares of Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after purchasing an additional 7,148 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 7.8 %

NASDAQ:COIN opened at $169.13 on Wednesday. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48. The stock’s fifty day moving average price is $214.77 and its two-hundred day moving average price is $224.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $41.53 billion, a P/E ratio of 33.76 and a beta of 3.40.

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. As a group, analysts expect that Coinbase Global, Inc. will post 4.28 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $248.38.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Paul Grewal sold 10,000 shares of the firm’s 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 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 available at the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the transaction, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,987 shares of company stock valued at $17,535,714. 23.43% of the stock is currently owned by corporate insiders.

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.