Mediolanum International Funds Ltd boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 226.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,336 shares of the cryptocurrency exchange's stock after purchasing an additional 22,432 shares during the quarter. Mediolanum International Funds Ltd's holdings in Coinbase Global were worth $5,624,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of COIN. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock valued at $882,822,000 after acquiring an additional 127,075 shares during the last quarter. Groupama Asset Managment bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $372,450,000. Northern Trust Corp boosted its position in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after acquiring an additional 218,400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Coinbase Global by 29.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange's stock valued at $243,118,000 after acquiring an additional 222,789 shares during the last quarter. Finally, Ribbit Management Company LLC boosted its position in shares of Coinbase Global by 33.9% during the 4th quarter. Ribbit Management Company LLC now owns 527,600 shares of the cryptocurrency exchange's stock valued at $131,003,000 after acquiring an additional 133,500 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.
Coinbase Global Trading Up 1.6%
Shares of COIN traded up $5.88 during mid-day trading on Thursday, hitting $383.36. 5,018,342 shares of the company's stock traded hands, compared to its average volume of 11,367,598. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm has a market capitalization of $97.33 billion, a P/E ratio of 71.92, a PEG ratio of 26.47 and a beta of 3.70. The business's 50-day moving average price is $324.49 and its 200-day moving average price is $258.36.
Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. 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 posted $2.53 earnings per share. Coinbase Global's quarterly revenue was up 24.2% on a year-over-year basis. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
Insider Activity at Coinbase Global
In related news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $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 available through this hyperlink. Also, 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 sale, the director owned 10,417 shares in the company, valued at $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,208,340 shares of company stock worth $439,997,456 over the last three months. Insiders own 17.65% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on COIN. Argus began coverage on Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price target for the company. Needham & Company LLC dropped their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. HC Wainwright reissued a "sell" rating and set a $300.00 price objective (down from $305.00) on shares of Coinbase Global in a report on Thursday, July 10th. Citigroup raised their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $336.58.
Check Out Our Latest Stock Analysis on COIN
Coinbase Global 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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