Charles Schwab Investment Management Inc. Has $163.94 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Charles Schwab Investment Management Inc. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 951,848 shares of the cryptocurrency exchange's stock after purchasing an additional 16,816 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.37% of Coinbase Global worth $163,937,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COIN. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the fourth quarter worth $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global in the fourth quarter worth $26,000. Bessemer Group Inc. increased its stake in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after acquiring an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the first quarter worth $30,000. Finally, NBT Bank N A NY acquired a new position in shares of Coinbase Global in the first quarter worth $33,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

COIN traded up $9.08 during midday trading on Monday, reaching $319.62. 14,491,954 shares of the company's stock were exchanged, compared to its average volume of 14,635,389. The firm has a market capitalization of $82.12 billion, a price-to-earnings ratio of 30.91 and a beta of 3.70. 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 one year low of $142.58 and a one year high of $444.64. The business has a 50-day simple moving average of $334.34 and a two-hundred day simple moving average of $259.98.

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

Analyst Ratings Changes

COIN has been the topic of a number of research reports. Erste Group Bank initiated coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They issued a "buy" rating on the stock. Barclays lowered their target price on shares of Coinbase Global from $359.00 to $352.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. The Goldman Sachs Group increased their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Compass Point reissued a "sell" rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average target price of $352.18.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the transaction, the director owned 10,417 shares in the company, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at $190,732.86. This trade represents a 99.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,208,340 shares of company stock valued at $442,911,206 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

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.