Andra AP fonden Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Andra AP fonden purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,100 shares of the cryptocurrency exchange’s stock, valued at approximately $6,467,000.

A number of other institutional investors have also recently modified their holdings of COIN. Creekmur Asset Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter worth $29,000. Concord Wealth Partners raised its holdings in 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 last quarter. Finally, Geneos Wealth Management Inc. raised its holdings 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 purchasing an additional 100 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the completion of the sale, the chief operating officer now owns 189,101 shares of the company’s stock, valued at $33,298,795.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,562 shares of company stock valued at $23,241,279. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $157.15 on Thursday. The firm has a market capitalization of $38.59 billion, a P/E ratio of 31.37 and a beta of 3.36. The stock has a fifty day moving average price of $206.66 and a 200 day moving average price of $223.71. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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). 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 for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm posted ($0.42) EPS. Coinbase Global’s revenue was up 104.8% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. The Goldman Sachs Group cut their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Bank of America cut their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, HC Wainwright cut their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $246.06.

About Coinbase Global

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.