TB Alternative Assets Ltd. Invests $41 Million in Coinbase Global, Inc. $COIN

Key Points

• TB Alternative Assets Ltd. has invested approximately $41 million in Coinbase Global, acquiring 116,986 shares, which now represent 7.6% of its portfolio.
• Coinbase currently has a consensus target price of $356.18, with thirteen analysts rating it as a Buy and ten as Hold.
• Insiders have sold a significant amount of stock recently, totaling 749,515 shares with a combined value of $283.99 million over the last ninety days.

TB Alternative Assets Ltd. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 116,986 shares of the cryptocurrency exchange's stock, valued at approximately $41,002,000. Coinbase Global comprises approximately 7.6% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 5th largest position.

Several other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at $37,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Coinbase Global in the fourth quarter valued at $27,749,000. IronOak Wealth LLC. purchased a new stake in Coinbase Global in the fourth quarter valued at $765,000. Copia Wealth Management purchased a new stake in Coinbase Global in the fourth quarter valued at $26,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in Coinbase Global in the fourth quarter valued at $15,578,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research reports. Williams Trading set a $405.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Oppenheimer reaffirmed an "outperform" rating and issued a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $470.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Piper Sandler reaffirmed a "neutral" rating and issued a $350.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Jefferies Financial Group upped their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and a consensus target price of $356.18.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at $25,070,522.56. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the sale, the insider owned 478 shares in the company, valued at $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 749,515 shares of company stock valued at $283,990,425. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Trading Up 0.5%

Shares of COIN opened at $321.77 on Thursday. 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 firm's 50-day moving average is $332.53 and its two-hundred day moving average is $273.28. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The firm has a market capitalization of $82.68 billion, a P/E ratio of 31.12 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share 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 company posted $0.14 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

About Coinbase Global

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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