Edgestream Partners L.P. Has $3.96 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Edgestream Partners L.P. lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 20.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,815 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,022 shares during the period. Edgestream Partners L.P.’s holdings in Coinbase Global were worth $3,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. Geneos Wealth Management Inc. increased its holdings in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. Concord Wealth Partners increased its stake 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 acquiring an additional 87 shares during the period. Mather Group LLC. acquired a new position in Coinbase Global in the 1st quarter valued at approximately $32,000. Crewe Advisors LLC lifted its position in shares of Coinbase Global by 547.4% in 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 during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent research reports. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $206.00 to $169.00 in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Bank of America dropped their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note 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 given a buy rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $246.06.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $16,784,221.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,562 shares of company stock valued at $23,115,399. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 0.6 %

Shares of COIN opened at $162.45 on Wednesday. The stock’s fifty day simple moving average is $201.87 and its 200-day simple moving average is $222.80. The firm has a market capitalization of $39.89 billion, a PE ratio of 32.43 and a beta of 3.36. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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). The business had revenue of $1.45 billion during 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%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period last year, the business posted ($0.42) EPS. As a group, research analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current 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.