Itau Unibanco Holding S.A. Has $623,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Itau Unibanco Holding S.A. increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 18.9% in the 2nd quarter, Holdings Channel reports. The firm owned 2,805 shares of the cryptocurrency exchange’s stock after purchasing an additional 445 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coinbase Global were worth $623,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in COIN. Salem Investment Counselors Inc. grew its stake in Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Coinbase Global by 454.3% during the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd grew its holdings in Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after buying an additional 85,573 shares during the last quarter. QRG Capital Management Inc. increased its position in Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after buying an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. lifted its holdings in shares of Coinbase Global by 93.5% during the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after buying an additional 7,148 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 1.1 %

Shares of NASDAQ COIN opened at $170.09 on Friday. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-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 business has a fifty day moving average of $198.85 and a two-hundred day moving average of $221.59. The stock has a market cap of $41.77 billion, a PE ratio of 33.95 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.42) EPS. As a group, equities research analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the sale, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at $16,784,221.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,562 shares of company stock worth $23,115,399. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COIN. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $246.06.

Coinbase Global 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.