Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 103.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 30,729 shares of the cryptocurrency exchange’s stock after acquiring an additional 15,652 shares during the period. AQR Capital Management LLC’s holdings in Coinbase Global were worth $6,829,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Abich Financial Wealth Management LLC boosted its position in shares of Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares during the period. Alpha DNA Investment Management LLC lifted its stake in Coinbase Global by 13.3% during the second quarter. Alpha DNA Investment Management LLC now owns 3,522 shares of the cryptocurrency exchange’s stock valued at $783,000 after buying an additional 413 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Coinbase Global in the second quarter worth about $628,000. Toronto Dominion Bank increased its position in shares of Coinbase Global by 568.1% in the second quarter. Toronto Dominion Bank now owns 137,545 shares of the cryptocurrency exchange’s stock worth $30,567,000 after acquiring an additional 116,958 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Coinbase Global by 71.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 35,578 shares of the cryptocurrency exchange’s stock valued at $7,906,000 after acquiring an additional 14,866 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $163.10 on Friday. The business’s 50 day moving average is $185.19 and its 200-day moving average is $217.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $40.05 billion, a PE ratio of 32.55 and a beta of 3.35. Coinbase Global, Inc. has a 1-year low of $70.41 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business 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 firm’s quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) EPS. Sell-side analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, HC Wainwright reduced their price target 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. 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 company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $246.06.

Insider Activity

In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $115,883.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $115,883.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.70, for a total transaction of $344,550.00. Following the sale, the chief operating officer now owns 196,471 shares in the company, valued at $45,129,388.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,112 shares of company stock worth $20,596,024. Corporate insiders own 23.43% of the company’s stock.

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.