Cedar Brook Financial Partners LLC Purchases 318 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cedar Brook Financial Partners LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,015 shares of the cryptocurrency exchange’s stock after acquiring an additional 318 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in Coinbase Global were worth $502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maryland State Retirement & Pension System increased its position in Coinbase Global by 5.9% during the first quarter. Maryland State Retirement & Pension System now owns 12,628 shares of the cryptocurrency exchange’s stock worth $853,000 after acquiring an additional 698 shares during the period. Arizona State Retirement System increased its position in Coinbase Global by 3.9% during the first quarter. Arizona State Retirement System now owns 36,397 shares of the cryptocurrency exchange’s stock worth $2,459,000 after acquiring an additional 1,359 shares during the period. New York State Common Retirement Fund increased its position in Coinbase Global by 1.4% during the first quarter. New York State Common Retirement Fund now owns 171,400 shares of the cryptocurrency exchange’s stock worth $11,581,000 after acquiring an additional 2,300 shares during the period. Korea Investment CORP increased its position in Coinbase Global by 114.3% during the fourth quarter. Korea Investment CORP now owns 18,528 shares of the cryptocurrency exchange’s stock worth $656,000 after acquiring an additional 9,884 shares during the period. Finally, KBC Group NV increased its holdings in Coinbase Global by 742.9% in the 1st quarter. KBC Group NV now owns 81,060 shares of the cryptocurrency exchange’s stock valued at $5,477,000 after buying an additional 71,443 shares during the period. Institutional investors own 45.96% of the company’s stock.

Coinbase Global Stock Up 4.5 %

Shares of COIN stock opened at $83.45 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $86.47 and a 200-day moving average of $70.49. Coinbase Global, Inc. has a one year low of $31.55 and a one year high of $114.43.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 3rd. The cryptocurrency exchange reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.36. Coinbase Global had a negative return on equity of 20.68% and a negative net margin of 47.33%. The business had revenue of $707.91 million during the quarter, compared to analysts’ expectations of $627.60 million. During the same period in the prior year, the business earned ($4.95) EPS. Coinbase Global’s revenue for the quarter was down 12.4% compared to the same quarter last year. Analysts anticipate that Coinbase Global, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Lawrence J. Brock sold 19,814 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $78.34, for a total transaction of $1,552,228.76. Following the completion of the transaction, the insider now directly owns 11,019 shares of the company’s stock, valued at approximately $863,228.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Lawrence J. Brock sold 19,814 shares of Coinbase Global stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $78.34, for a total value of $1,552,228.76. Following the sale, the insider now directly owns 11,019 shares in the company, valued at $863,228.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 2,402 shares of Coinbase Global stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $77.03, for a total transaction of $185,026.06. Following the completion of the sale, the insider now owns 61,665 shares in the company, valued at $4,750,054.95. The disclosure for this sale can be found here. In the last three months, insiders sold 325,872 shares of company stock valued at $27,017,282. 33.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wedbush boosted their price target on shares of Coinbase Global from $75.00 to $110.00 and gave the company an “outperformer” rating in a report on Thursday, July 13th. JPMorgan Chase & Co. boosted their price target on shares of Coinbase Global from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Compass Point boosted their price target on shares of Coinbase Global from $100.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. The Goldman Sachs Group boosted their price target on shares of Coinbase Global from $45.00 to $51.00 and gave the company a “sell” rating in a report on Friday, August 4th. Finally, HC Wainwright boosted their target price on shares of Coinbase Global from $77.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.38.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.