Sanctuary Advisors LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
Sanctuary Advisors LLC disclosed in its most recent 13F filing with the Securities & Exchange Commission that it had purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter. The fund disclosed that it had purchased 12,305 shares of the cryptocurrency exchange's stock, valued at approximately $2,908,000.
Several other institutional investors also recently made changes to their positions in COIN. SRN Advisors LLC boosted its position in Coinbase Global by 10.9% during the 2nd quarter. After purchasing an additional 1,259 shares during the period, SRN Advisors LLC now owns 12,774 shares of the cryptocurrency exchange's stock valued at $2,839,000. Heritage Oak Wealth Advisors LLC bought a new position in shares of Coinbase Global during the second quarter worth about $462,000. Cetera Investment Advisers grew its position in shares of Coinbase Global by 9.1% during the second quarter. Cetera Investment Advisers now owns 28,306 shares of the cryptocurrency exchange's stock worth $6,291,000 after acquiring an additional 2,371 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter worth about $5,476,000. Finally, Truist Financial Corp boosted its stake in Coinbase Global by 12.1% during the 2nd quarter. After purchasing an additional 646 shares during the period, Truist Financial Corp now owns 5,988 shares of the cryptocurrency exchange's stock valued at $1,331,000. 68.84% of the stock is owned by institutional investors.
Several equities research analysts have commented on the stock. HC Wainwright dropped their price target on shares of Coinbase Global from $315.00 to $295.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group reaffirmed a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued 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 note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $255.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $246.06.
Check Out Our Latest Research Report on COIN
Coinbase Global Trading Up 4.8 %
NASDAQ:COIN opened at $170.91 on Monday. The stock has a fifty day simple moving average of $183.75 and a 200 day simple moving average of $216.57. The firm has a market capitalization of $41.97 billion, a price-to-earnings ratio of 34.11 and a beta of 3.35. Coinbase Global, Inc. has a 1-year low of $70.42 and a 1-year high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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 return on equity of 13.89% and a net margin of 31.46%. 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 previous year, the business earned ($0.42) earnings per share. The business's quarterly revenue was up 104