Hsbc Holdings PLC Has $45.04 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Hsbc Holdings PLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 153.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,666 shares of the cryptocurrency exchange’s stock after purchasing an additional 123,454 shares during the period. Hsbc Holdings PLC’s holdings in Coinbase Global were worth $45,043,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the 2nd quarter valued at about $29,000. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the transaction, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the transaction, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,562 shares of company stock worth $23,115,399. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. The Goldman Sachs Group reduced their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Stock Up 1.1 %

NASDAQ:COIN opened at $170.09 on Friday. The stock has a 50-day simple moving average of $199.80 and a 200 day simple moving average of $222.00. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a market cap of $41.77 billion, a PE ratio of 33.95 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

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