9,100 Shares in Coinbase Global, Inc. $COIN Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,100 shares of the cryptocurrency exchange's stock, valued at approximately $3,189,000.

Several other large investors have also recently modified their holdings of COIN. Groupama Asset Managment lifted its position 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 purchasing an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after buying an additional 875,359 shares during the period. Nuveen LLC bought a new stake in Coinbase Global during the 1st quarter valued at $83,454,000. Amundi boosted its position in Coinbase Global by 44.1% during the 1st 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 during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Coinbase Global by 2,647.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange's stock worth $66,572,000 after acquiring an additional 191,300 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Down 5.4%

COIN opened at $320.33 on Thursday. 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, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The stock has a market cap of $82.31 billion, a PE ratio of 30.98 and a beta of 3.68. The business has a 50 day moving average of $328.93 and a 200-day moving average of $296.02.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Monness Crespi & Hardt downgraded shares of Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Citigroup upped their price target on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. HC Wainwright reiterated a "sell" rating and issued a $300.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. JMP Securities boosted their target price on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Finally, Rothschild & Co Redburn raised Coinbase Global from a "neutral" rating to a "buy" rating and raised their price target for the stock from $325.00 to $417.00 in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $376.09.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the sale, the chief executive officer owned 526 shares of the company's stock, valued at $186,977.22. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lawrence J. Brock sold 5,903 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the transaction, the insider directly owned 478 shares of the company's stock, valued at $148,834.86. This represents a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,657 shares of company stock valued at $67,479,576 in the last three months. Company insiders own 17.65% of the company's stock.

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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