National Pension Service Buys 12,334 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

National Pension Service lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,270 shares of the cryptocurrency exchange's stock after acquiring an additional 12,334 shares during the period. National Pension Service owned approximately 0.11% of Coinbase Global worth $48,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the fourth quarter valued at about $26,000. Bessemer Group Inc. grew its stake in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after buying an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the first quarter valued at about $30,000. Finally, SouthState Corp grew its stake in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock valued at $32,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of COIN opened at $324.89 on Friday. The company has a market cap of $83.48 billion, a price-to-earnings ratio of 31.42 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $338.64 and a two-hundred day moving average of $261.20.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,185,704 shares of company stock worth $438,918,732 over the last three months. Company insiders own 17.65% of the company's stock.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a report on Monday, August 4th. Monness Crespi & Hardt downgraded Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Rosenblatt Securities reissued a "buy" rating and issued a $470.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Oppenheimer restated an "outperform" rating and issued a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of "Hold" and a consensus target price of $352.18.

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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