Laidlaw Wealth Management LLC Has $360,000 Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Laidlaw Wealth Management LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,618 shares of the cryptocurrency exchange’s stock after selling 242 shares during the period. Laidlaw Wealth Management LLC’s holdings in Coinbase Global were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Crewe Advisors LLC raised its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global in the 2nd quarter valued at about $29,000. Concord Wealth Partners increased its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Barclays upped their target price on Coinbase Global from $196.00 to $206.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, HC Wainwright dropped their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $248.38.

Coinbase Global Trading Down 2.6 %

Shares of COIN stock opened at $183.36 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $45.03 billion, a P/E ratio of 36.60 and a beta of 3.40. The stock has a 50 day simple moving average of $215.82 and a two-hundred day simple moving average of $224.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 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 firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The business’s quarterly revenue was up 104.8% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $380,530.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the transaction, the chief operating officer now directly owns 207,471 shares in the company, valued at approximately $51,071,061.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,987 shares of company stock valued at $17,535,714. Company insiders own 23.43% of the company’s stock.

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.