Emory University Sells 190 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Emory University reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,312 shares of the cryptocurrency exchange’s stock after selling 190 shares during the quarter. Coinbase Global comprises approximately 0.6% of Emory University’s portfolio, making the stock its 5th largest holding. Emory University’s holdings in Coinbase Global were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. Crewe Advisors LLC increased its stake in shares of Coinbase Global by 547.4% in the second 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 last quarter. Lynx Investment Advisory purchased a new stake in shares of Coinbase Global during the second quarter worth $29,000. Concord Wealth Partners boosted its position 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 purchasing an additional 87 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Coinbase Global by 833.3% in the first 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 in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the transaction, the chief operating officer now owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the sale, the chief operating officer now owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,562 shares of company stock worth $23,241,279. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

COIN stock opened at $147.35 on Friday. The stock has a market capitalization of $36.18 billion, a PE ratio of 29.41 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day moving average price of $210.96 and a 200 day moving average price of $223.91. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48.

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). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted ($0.42) EPS. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. Analysts forecast that Coinbase Global, Inc. will post 4.28 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Bank of America cut their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $206.00 to $169.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $246.06.

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.