Driehaus Capital Management LLC Purchases New Position in Coinbase Global, Inc. $COIN

Driehaus Capital Management LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,517 shares of the cryptocurrency exchange's stock, valued at approximately $434,000.

A number of other institutional investors also recently modified their holdings of COIN. Groupama Asset Managment lifted its stake in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Coinbase Global during the 1st quarter valued at approximately $83,454,000. Two Sigma Advisers LP lifted its stake in shares of Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on COIN. Barclays upped their price target on shares of Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Keefe, Bruyette & Woods decreased 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 report on Monday, August 4th. Argus started coverage on shares of Coinbase Global in a report on Monday, July 14th. They set a "buy" rating and a $400.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Sanford C. Bernstein upped their target price on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $352.72.

Coinbase Global Price Performance

COIN stock opened at $304.54 on Monday. 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, Inc. has a one year low of $142.58 and a one year high of $444.64. The stock has a market cap of $78.25 billion, a PE ratio of 29.45 and a beta of 3.68. The firm has a 50 day simple moving average of $348.44 and a two-hundred day simple moving average of $262.97.

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

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value 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. The trade was a 99.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 1,170,871 shares of company stock valued at $436,447,826. 23.43% of the stock is owned by insiders.

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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