78,584 Shares in Coinbase Global, Inc. $COIN Purchased by Strs Ohio

Strs Ohio purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 78,584 shares of the cryptocurrency exchange's stock, valued at approximately $13,535,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. ARK Investment Management LLC increased its holdings in Coinbase Global by 1.1% in the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock valued at $528,592,000 after buying an additional 34,462 shares in the last quarter. Groupama Asset Managment increased its holdings in Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi increased its holdings in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock valued at $268,850,000 after buying an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange's stock valued at $224,318,000 after buying an additional 7,675 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COIN. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Barclays increased their target price on shares of Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. JMP Securities increased their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Oppenheimer reaffirmed an "outperform" rating and issued a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Jefferies Financial Group raised their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $352.72.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer owned 526 shares of the company's stock, valued at $190,732.86. The trade was a 99.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,180,871 shares of company stock valued at $440,664,276. Company insiders own 17.65% of the company's stock.

Coinbase Global Stock Down 0.3%

Shares of COIN opened at $323.04 on Friday. The firm has a market cap of $83.00 billion, a PE ratio of 31.24 and a beta of 3.68. The company's fifty day moving average is $340.68 and its two-hundred day moving average is $267.27. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.

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