Czech National Bank Takes $18.13 Million Position in Coinbase Global, Inc. $COIN

Czech National Bank purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 51,732 shares of the cryptocurrency exchange's stock, valued at approximately $18,132,000.

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

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $327.91 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The business has a 50-day moving average of $339.54 and a two-hundred day moving average of $268.88. The stock has a market capitalization of $84.25 billion, a P/E ratio of 31.71 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

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 return on equity of 16.02% and a net margin of 40.87%.Coinbase Global's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on COIN. Rosenblatt Securities reaffirmed a "buy" rating and issued a $470.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Argus began coverage on Coinbase Global in a research report on Monday, July 14th. They issued a "buy" rating and a $400.00 target price for the company. Sanford C. Bernstein raised their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Needham & Company LLC raised their target price on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group raised their target price on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Thirteen research 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. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $352.72.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,171,098 shares of company stock valued at $438,182,162 in the last 90 days. Insiders own 23.43% 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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