Baird Financial Group Inc. Buys 5,407 Shares of Coinbase Global, Inc. $COIN

Baird Financial Group Inc. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 47.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,761 shares of the cryptocurrency exchange’s stock after purchasing an additional 5,407 shares during the quarter. Baird Financial Group Inc.’s holdings in Coinbase Global were worth $5,875,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 733,096 shares of company stock worth $226,624,810. 16.56% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of COIN opened at $277.36 on Wednesday. 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 stock has a 50-day moving average of $312.73 and a two-hundred day moving average of $318.87. The stock has a market cap of $74.79 billion, a P/E ratio of 23.99 and a beta of 3.69. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

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

Analysts Set New Price Targets

COIN has been the topic of several research analyst reports. HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and upped their price objective for the company from $300.00 to $425.00 in a research report on Thursday, October 30th. Rothschild & Co Redburn reduced their price target on shares of Coinbase Global from $417.00 to $404.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Redburn Partners set a $417.00 target price on Coinbase Global in a research report on Friday, October 3rd. Wall Street Zen cut shares of Coinbase Global from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $396.94.

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.