American Century Companies Inc. Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

American Century Companies Inc. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1,136.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 474,234 shares of the cryptocurrency exchange’s stock after acquiring an additional 435,886 shares during the period. American Century Companies Inc.’s holdings in Coinbase Global were worth $105,389,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $122,000. Jump Financial LLC purchased a new stake in Coinbase Global in the 4th quarter worth approximately $220,000. Dimensional Fund Advisors LP raised its holdings in Coinbase Global by 16.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 427,461 shares of the cryptocurrency exchange’s stock valued at $74,417,000 after acquiring an additional 58,878 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth $297,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Coinbase Global by 9.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,049 shares of the cryptocurrency exchange’s stock worth $13,400,000 after purchasing an additional 6,349 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,062 shares of company stock valued at $22,872,039. 23.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on COIN. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Finally, Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $246.06.

Coinbase Global Stock Up 0.1 %

COIN stock opened at $163.05 on Friday. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 32.54 and a beta of 3.36. The company has a 50-day moving average of $204.20 and a two-hundred day moving average of $223.08. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned ($0.42) EPS. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current 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.