Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 23.7% during the second quarter, HoldingsChannel.com reports. The firm owned 60,761 shares of the cryptocurrency exchange’s stock after purchasing an additional 11,627 shares during the period. Victory Capital Management Inc.’s holdings in Coinbase Global were worth $13,503,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of COIN. Vanguard Group Inc. raised its stake in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares in the last quarter. Norges Bank bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $202,936,000. Canada Pension Plan Investment Board raised its position in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Coinbase Global by 16.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 427,461 shares of the cryptocurrency exchange’s stock worth $74,417,000 after purchasing an additional 58,878 shares during the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new position in Coinbase Global in the first quarter worth $108,434,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $206.00 to $169.00 in a research report on Friday, September 6th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Compass Point lowered their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $246.06.

Insider Activity

In other Coinbase Global 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 value of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $380,530.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of Coinbase Global stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.95, for a total value of $335,925.00. Following the sale, the chief operating officer now owns 205,971 shares of the company’s stock, valued at approximately $46,127,205.45. The disclosure for this sale can be found here. Insiders sold a total of 110,062 shares of company stock worth $22,872,039 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Up 0.1 %

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

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

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.