Assenagon Asset Management S.A. Has $10.18 Million Stock Position in Coinbase Global, Inc. $COIN

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Coinbase Global, Inc. by 694.7%, owning 29,037 shares valued at approximately $10.18 million.
• Coinbase's latest earnings report showed a missed consensus estimate with an EPS of $0.12, compared to an expected $0.91, and revenues of $1.50 billion against predictions of $1.68 billion.
• Coinbase's stock has a current market cap of $82.24 billion and has experienced a twelve-month price range of $142.58 to $444.64.

Assenagon Asset Management S.A. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 694.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,037 shares of the cryptocurrency exchange's stock after acquiring an additional 25,383 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Coinbase Global were worth $10,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of COIN. Sunbelt Securities Inc. lifted its holdings in shares of Coinbase Global by 14.9% in the 4th quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange's stock worth $204,000 after purchasing an additional 104 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $37,000. Bernard Wealth Management Corp. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $56,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,749,000. Finally, Siemens Fonds Invest GmbH increased its position in shares of Coinbase Global by 2,578.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 54,095 shares of the cryptocurrency exchange's stock valued at $13,432,000 after acquiring an additional 52,075 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $320.07 on Wednesday. The company has a 50 day moving average of $334.06 and a two-hundred day moving average of $272.94. The company has a market cap of $82.24 billion, a price-to-earnings ratio of 30.95 and a beta of 3.68. 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 twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm 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%. Coinbase Global's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 4,675 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $322.24, for a total value of $1,506,472.00. Following the transaction, the chief financial officer directly owned 89,220 shares in the company, valued at $28,750,252.80. The trade was a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $169,519.28. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 863,250 shares of company stock worth $325,293,290 in the last quarter. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on COIN. JMP Securities increased their price objective on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Oppenheimer restated an "outperform" rating and set a $417.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Benchmark lifted their price target on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, China Renaissance started coverage on Coinbase Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price target on the stock. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $356.18.

Coinbase Global Profile

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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