Jupiter Asset Management Ltd. Acquires Shares of 944 Coinbase Global, Inc. (NASDAQ:COIN)

Jupiter Asset Management Ltd. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 944 shares of the cryptocurrency exchange’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Concord Wealth Partners raised its position in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Coinbase Global in the 1st quarter valued at approximately $32,000. Crewe Advisors LLC raised its position in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $29,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on COIN shares. HC Wainwright dropped their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Compass Point lowered 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. Finally, Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $206.00 to $169.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $246.06.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $115,883.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Emilie Choi sold 8,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the transaction, the chief operating officer now directly owns 189,101 shares of the company’s stock, valued at $33,298,795.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $115,883.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,062 shares of company stock valued at $22,872,039. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 0.1 %

NASDAQ:COIN opened at $163.05 on Friday. The firm’s fifty day moving average is $204.20 and its 200-day moving average is $223.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The firm has a market cap of $40.51 billion, a P/E ratio of 32.54 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted ($0.42) earnings per share. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

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.