Main Street Financial Solutions LLC Has $540,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Main Street Financial Solutions LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,431 shares of the cryptocurrency exchange’s stock after selling 136 shares during the period. Main Street Financial Solutions LLC’s holdings in Coinbase Global were worth $540,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of COIN. Vanguard Group Inc. raised its holdings in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after buying an additional 2,624,989 shares during the last quarter. Norges Bank acquired a new position in Coinbase Global during the fourth quarter worth $202,936,000. Canada Pension Plan Investment Board raised its holdings in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd bought a new stake in shares of Coinbase Global in the 1st quarter worth $108,434,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $91,487.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares in the company, valued at $15,623,742.75. The disclosure for this sale can be found here. Insiders sold 110,062 shares of company stock worth $22,872,039 over the last quarter. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Compass Point reduced 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 note on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, 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. One 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 company. According to MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $246.06.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $163.05 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $40.51 billion, a PE ratio of 32.54 and a beta of 3.36. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The company has a 50-day moving average price of $204.20 and a two-hundred day moving average price of $223.08.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 13.89% and a net margin of 31.46%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.42) EPS. Equities analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current year.

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.