Allianz Asset Management GmbH increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 461.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,925 shares of the cryptocurrency exchange's stock after purchasing an additional 58,290 shares during the quarter. Allianz Asset Management GmbH's holdings in Coinbase Global were worth $12,215,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in COIN. Mascagni Wealth Management Inc. purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $26,000. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after purchasing an additional 113 shares during the period. NBT Bank N A NY purchased a new position in shares of Coinbase Global in the 1st quarter worth approximately $33,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Coinbase Global in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.84% of the company's stock.
Coinbase Global Stock Down 3.2%
NASDAQ COIN traded down $12.19 during trading on Tuesday, reaching $367.30. 3,481,816 shares of the company's stock were exchanged, compared to its average volume of 11,370,163. The stock has a market cap of $93.25 billion, a P/E ratio of 68.82, a price-to-earnings-growth ratio of 29.86 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The company has a 50 day moving average price of $319.92 and a two-hundred day moving average price of $256.73. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the firm earned $2.53 earnings per share. The firm's quarterly revenue was up 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
Insider Transactions at Coinbase Global
In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the sale, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total value of $1,080,600.00. Following the sale, the chief financial officer owned 97,366 shares in the company, valued at $35,071,233.20. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,208,340 shares of company stock worth $439,997,456. Corporate insiders own 23.43% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on Coinbase Global from $190.00 to $350.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Rosenblatt Securities lifted their target price on Coinbase Global from $300.00 to $470.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. Needham & Company LLC dropped their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price objective for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $320.06.
Read Our Latest Stock Report on Coinbase Global
Coinbase Global Company Profile
(
Free Report)
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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