Signaturefd LLC Purchases 557 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Signaturefd LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 22.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,014 shares of the cryptocurrency exchange’s stock after purchasing an additional 557 shares during the quarter. Signaturefd LLC’s holdings in Coinbase Global were worth $537,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of COIN. Vanguard Group Inc. raised its position in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after buying an additional 486,512 shares during the period. American Century Companies Inc. increased its stake in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global in the first quarter valued at about $108,434,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COIN. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group decreased their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. HC Wainwright decreased their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $242.82.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now directly owns 194,971 shares in the company, valued at approximately $45,428,243. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares in the company, valued at $45,428,243. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,187 shares of company stock worth $13,158,294 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Down 2.0 %

COIN stock opened at $205.04 on Friday. Coinbase Global, Inc. has a twelve month low of $70.42 and a twelve month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $181.15 and its 200-day moving average is $210.23. The firm has a market capitalization of $50.35 billion, a PE ratio of 40.93 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its 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). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global, Inc. will post 3.92 EPS for the current fiscal year.

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.