Guggenheim Capital LLC Purchases 2,474 Shares of Coinbase Global, Inc. $COIN

Guggenheim Capital LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 159.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,022 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,474 shares during the quarter. Guggenheim Capital LLC’s holdings in Coinbase Global were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cadent Capital Advisors LLC increased its stake in shares of Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after buying an additional 30 shares in the last quarter. Ameriflex Group Inc. lifted its stake in Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after buying an additional 30 shares during the period. Pettinga Financial Advisors LLC boosted its stake in Coinbase Global by 2.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after acquiring an additional 34 shares during the last quarter. Evelyn Partners Investment Management Europe Ltd boosted its position in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Finally, Hemington Wealth Management lifted its holdings in Coinbase Global by 12.1% during the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock worth $123,000 after acquiring an additional 38 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In related news, insider Lawrence J. Brock sold 5,902 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $250.58, for a total transaction of $1,478,923.16. Following the completion of the sale, the insider owned 497 shares of the company’s stock, valued at $124,538.26. This trade represents a 92.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $280.27, for a total value of $770,742.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 815,846 shares of company stock worth $248,642,353 over the last quarter. 16.56% of the stock is owned by company insiders.

Coinbase Global Stock Down 0.8%

Coinbase Global stock opened at $275.09 on Thursday. The firm has a market cap of $74.18 billion, a price-to-earnings ratio of 23.80 and a beta of 3.69. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a 50 day moving average price of $311.31 and a two-hundred day moving average price of $318.57.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. Coinbase Global’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Erste Group Bank cut Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Rosenblatt Securities boosted their price objective on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a report on Monday, November 10th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, October 31st. Finally, Bank of America lowered their price target on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.94.

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.