Oregon Public Employees Retirement Fund Makes New $6.41 Million Investment in Coinbase Global, Inc. $COIN

Oregon Public Employees Retirement Fund bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,300 shares of the cryptocurrency exchange's stock, valued at approximately $6,414,000.

A number of other large investors also recently made changes to their positions in COIN. Cadent Capital Advisors LLC boosted its stake in Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange's stock valued at $1,108,000 after purchasing an additional 30 shares during the period. Ameriflex Group Inc. lifted its holdings in shares of Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock worth $68,000 after buying an additional 30 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Coinbase Global by 12.1% in the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange's stock valued at $123,000 after acquiring an additional 38 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Coinbase Global by 13.7% in the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange's stock valued at $113,000 after acquiring an additional 39 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Coinbase Global by 4.2% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,015 shares of the cryptocurrency exchange's stock worth $356,000 after acquiring an additional 41 shares during the period. Institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COIN. 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 research report on Monday, August 4th. Bank of America reduced their price target on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Jefferies Financial Group raised their price objective on Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Erste Group Bank assumed coverage on Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating for the company. Finally, Sanford C. Bernstein increased their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and an average target price of $367.12.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 1,742 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $322.22, for a total transaction of $561,307.24. Following the sale, the chief financial officer directly owned 5,226 shares in the company, valued at approximately $1,683,921.72. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,815 shares of company stock worth $135,227,072 in the last quarter. Corporate insiders own 23.43% of the company's stock.

Coinbase Global Trading Down 0.0%

Shares of COIN stock opened at $356.99 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The stock's fifty day moving average price is $325.84 and its two-hundred day moving average price is $289.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market cap of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). The business had revenue of $1.50 billion for 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 last year, the firm posted $0.14 EPS. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Company 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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