Russell Investments Group Ltd. raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 58.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,869 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,628 shares during the period. Russell Investments Group Ltd.’s holdings in Coinbase Global were worth $658,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its position in shares of Coinbase Global by 12.5% in the 1st quarter. Brighton Jones LLC now owns 1,494 shares of the cryptocurrency exchange’s stock valued at $284,000 after purchasing an additional 166 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Coinbase Global by 15.3% in the 1st quarter. International Assets Investment Management LLC now owns 1,352 shares of the cryptocurrency exchange’s stock valued at $257,000 after acquiring an additional 179 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Coinbase Global by 21.7% in the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,121 shares of the cryptocurrency exchange’s stock valued at $76,000 after acquiring an additional 200 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Coinbase Global by 12.1% in the 1st quarter. Signaturefd LLC now owns 1,986 shares of the cryptocurrency exchange’s stock valued at $134,000 after acquiring an additional 214 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Coinbase Global by 26.6% in the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after acquiring an additional 232 shares during the last quarter. 45.96% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
COIN has been the subject of a number of research analyst reports. Citigroup boosted their price target on Coinbase Global from $65.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Daiwa Capital Markets upgraded Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $65.00 in a research note on Monday, May 8th. JPMorgan Chase & Co. upped their price objective on Coinbase Global from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. JMP Securities restated a “market outperform” rating and set a $107.00 price objective on shares of Coinbase Global in a research note on Thursday, August 17th. Finally, The Goldman Sachs Group upped their price objective on Coinbase Global from $45.00 to $51.00 and gave the stock a “sell” rating in a research note on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $77.38.
Read Our Latest Stock Report on COIN
Insider Activity
In other news, CEO Brian Armstrong sold 29,730 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $59.90, for a total transaction of $1,780,827.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brian Armstrong sold 29,730 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $59.90, for a total transaction of $1,780,827.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer N. Jones sold 74,375 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $70.00, for a total value of $5,206,250.00. Following the sale, the chief accounting officer now directly owns 34,752 shares of the company’s stock, valued at $2,432,640. The disclosure for this sale can be found here. Insiders sold a total of 335,788 shares of company stock valued at $27,245,880 over the last three months. Insiders own 33.16% of the company’s stock.
Coinbase Global Trading Down 2.0 %
Shares of Coinbase Global stock opened at $77.99 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of -13.80 and a beta of 2.72. The business has a fifty day simple moving average of $85.28 and a 200-day simple moving average of $69.49. Coinbase Global, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $114.43.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The cryptocurrency exchange reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.36. Coinbase Global had a negative return on equity of 20.68% and a negative net margin of 47.33%. The business had revenue of $707.91 million during the quarter, compared to analyst estimates of $627.60 million. During the same quarter in the prior year, the firm posted ($4.95) earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global, Inc. will post -1.45 EPS for the current fiscal year.
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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