MGO One Seven LLC Purchases 1,401 Shares of Coinbase Global, Inc. $COIN

Key Points

• MGO One Seven LLC increased its stake in Coinbase Global, Inc. by 78.5%, acquiring an additional 1,401 shares, bringing its total holdings to 3,186 shares valued at approximately $1,117,000.
• Several institutional investors, including Vanguard Group Inc. and ARK Investment Management LLC, have also increased their positions in Coinbase, showcasing growing confidence in the cryptocurrency exchange.
• Wall Street analysts exhibit mixed sentiments toward Coinbase, with price targets varying from as low as $248 to as high as $510, resulting in a consensus rating of "Moderate Buy."

MGO One Seven LLC boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 78.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,186 shares of the cryptocurrency exchange's stock after acquiring an additional 1,401 shares during the period. MGO One Seven LLC's holdings in Coinbase Global were worth $1,117,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group restated a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Benchmark boosted their price target on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Rothschild Redb raised Coinbase Global from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Sanford C. Bernstein lifted their price objective on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Compass Point reaffirmed a "sell" rating and set a $248.00 price objective (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $367.94.

Coinbase Global Stock Down 1.8%

NASDAQ COIN opened at $330.25 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock's 50 day moving average is $327.75 and its two-hundred day moving average is $291.54. The company has a market capitalization of $84.85 billion, a price-to-earnings ratio of 31.94 and a beta of 3.68. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

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

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at $186,977.22. The trade was a 97.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,515 shares of company stock valued at $65,362,451 in the last three months. 17.65% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.