Assenagon Asset Management S.A. Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Assenagon Asset Management S.A. lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,581 shares of the cryptocurrency exchange’s stock after purchasing an additional 952 shares during the period. Assenagon Asset Management S.A.’s holdings in Coinbase Global were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC raised its stake in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter worth $29,000. 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. Versant Capital Management Inc boosted its position in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Coinbase Global in the third quarter valued at $32,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Coinbase Global stock opened at $182.88 on Friday. 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 company has a market cap of $45.44 billion, a price-to-earnings ratio of 31.21 and a beta of 3.35. Coinbase Global, Inc. has a 1 year low of $80.81 and a 1 year high of $283.48. The firm has a 50 day moving average price of $180.98 and a 200 day moving average price of $208.66.

Coinbase Global (NASDAQ:COIN) last released 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 return on equity of 15.38% and a net margin of 29.76%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company earned ($0.42) earnings per share. The company’s quarterly revenue was up 104.8% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 4.11 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the sale, the director now owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,687 shares of company stock valued at $14,908,594. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective on the stock. Citigroup upgraded shares of 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 report on Tuesday, July 23rd. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday. Finally, Bank of America raised their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $246.28.

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.