Exchange Traded Concepts LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,784 shares of the cryptocurrency exchange’s stock after acquiring an additional 11,165 shares during the period. Exchange Traded Concepts LLC owned 0.07% of Coinbase Global worth $12,506,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Ancora Advisors LLC increased its position in Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 435 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Coinbase Global during the 1st quarter valued at approximately $27,000. Bessemer Group Inc. lifted its holdings in Coinbase Global by 100.0% in the fourth quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock valued at $36,000 after acquiring an additional 500 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $36,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Coinbase Global by 231.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 597 shares of the cryptocurrency exchange’s stock valued at $40,000 after acquiring an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 45.96% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Citigroup upped their target price on shares of Coinbase Global from $65.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Piper Sandler upped their price target on Coinbase Global from $60.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. The Goldman Sachs Group upped their price target on Coinbase Global from $45.00 to $51.00 and gave the stock a “sell” rating in a research note on Friday, August 4th. JMP Securities reissued a “market outperform” rating and set a $107.00 price target on shares of Coinbase Global in a research report on Thursday, August 17th. Finally, Canaccord Genuity Group increased their price target on shares of Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.38.
Check Out Our Latest Stock Report on Coinbase Global
Insider Transactions at Coinbase Global
In other news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $74.38, for a total transaction of $85,165.10. Following the transaction, the director now directly owns 11,703 shares in the company, valued at $870,469.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,145 shares of Coinbase Global stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $74.38, for a total value of $85,165.10. Following the sale, the director now directly owns 11,703 shares in the company, valued at $870,469.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 7,335 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $75.00, for a total value of $550,125.00. Following the completion of the transaction, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at approximately $2,056,275. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,912 shares of company stock worth $20,231,614. Company insiders own 33.16% of the company’s stock.
Coinbase Global Trading Down 0.1 %
Shares of COIN stock opened at $75.08 on Friday. Coinbase Global, Inc. has a 52-week low of $31.55 and a 52-week high of $114.43. The stock’s 50-day moving average price is $81.64 and its 200 day moving average price is $71.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The cryptocurrency exchange reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.36. The firm had revenue of $707.91 million for the quarter, compared to analysts’ expectations of $627.60 million. Coinbase Global had a negative return on equity of 20.68% and a negative net margin of 47.33%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($4.95) EPS. Analysts predict that Coinbase Global, Inc. will post -1.45 earnings per share for the current fiscal year.
Coinbase Global Profile
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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