Elo Mutual Pension Insurance Co Acquires 441 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Elo Mutual Pension Insurance Co increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,292 shares of the cryptocurrency exchange’s stock after purchasing an additional 441 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Coinbase Global were worth $3,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC bought a new position in shares of Coinbase Global during the fourth quarter worth $220,000. Dimensional Fund Advisors LP boosted its holdings in shares of Coinbase Global by 16.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 427,461 shares of the cryptocurrency exchange’s stock valued at $74,417,000 after purchasing an additional 58,878 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at about $297,000. Kingsview Wealth Management LLC bought a new stake in shares of Coinbase Global in the fourth quarter worth about $284,000. Finally, Level Four Advisory Services LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $382,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 0.1 %

Shares of NASDAQ COIN opened at $162.64 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $39.94 billion, a price-to-earnings ratio of 32.46 and a beta of 3.36. The business’s 50 day moving average price is $200.73 and its 200-day moving average price is $222.38.

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

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The disclosure for this sale can be found here. Insiders have sold 111,562 shares of company stock valued at $23,115,399 in the last 90 days. Company insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research reports. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Compass Point reduced their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Bank of America dropped their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.06.

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.