Simon Quick Advisors LLC Has $1.49 Million Stock Holdings in Coinbase Global, Inc. $COIN

Simon Quick Advisors LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 392.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,527 shares of the cryptocurrency exchange’s stock after purchasing an additional 6,795 shares during the quarter. Simon Quick Advisors LLC’s holdings in Coinbase Global were worth $1,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC increased its position in Coinbase Global by 24.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 413 shares during the period. Empowered Funds LLC boosted its position in shares of Coinbase Global by 25.8% in the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after acquiring an additional 1,761 shares during the period. Focus Partners Wealth grew its stake in shares of Coinbase Global by 9.9% in the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after acquiring an additional 467 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Coinbase Global in the second quarter worth $285,000. Finally, Cerity Partners LLC increased its position in Coinbase Global by 8.6% during the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock worth $6,203,000 after acquiring an additional 1,402 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider directly owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the sale, the director owned 30,000 shares in the company, valued at approximately $5,446,200. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 30,627 shares of company stock worth $5,327,841. Corporate insiders own 16.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on COIN. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Piper Sandler decreased their price target on shares of Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $208.00 price objective on shares of Coinbase Global in a report on Wednesday, June 17th. Monness Crespi & Hardt reaffirmed a “sell” rating on shares of Coinbase Global in a research report on Friday, June 5th. Finally, Rothschild & Co Redburn increased their target price on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $245.39.

Trending Headlines about Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $157.12 on Friday. The business has a fifty day simple moving average of $170.41 and a 200 day simple moving average of $187.07. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 59.07, a PEG ratio of 10.00 and a beta of 3.35. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 1.41 EPS for the current year.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.