Perennial Investment Advisors LLC Buys 394 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Perennial Investment Advisors LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 34.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,536 shares of the cryptocurrency exchange’s stock after acquiring an additional 394 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Coinbase Global were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. Crewe Advisors LLC boosted its position in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global during the 2nd quarter worth about $29,000. Concord Wealth Partners raised its position in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

COIN stock opened at $162.45 on Wednesday. The company has a market capitalization of $39.89 billion, a P/E ratio of 32.43 and a beta of 3.36. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The business has a 50-day simple moving average of $201.87 and a two-hundred day simple moving average of $222.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company posted ($0.42) earnings per share. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on COIN. Compass Point decreased their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. HC Wainwright reduced their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Bank of America reduced their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $246.06.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction 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 filing with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.95, for a total value of $335,925.00. Following the sale, the chief operating officer now directly owns 205,971 shares of the company’s stock, valued at $46,127,205.45. The disclosure for this sale can be found here. Insiders sold a total of 111,562 shares of company stock worth $23,115,399 over the last quarter. 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.