Amalgamated Bank Acquires 3,133 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Amalgamated Bank boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 32.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,935 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,133 shares during the period. Amalgamated Bank’s holdings in Coinbase Global were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC grew its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board increased 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 worth $139,854,000 after purchasing an additional 486,512 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global in the 1st quarter valued at approximately $108,434,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COIN has been the topic of several analyst reports. HC Wainwright dropped their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $206.00 to $169.00 in a report on Friday, September 6th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. Finally, Bank of America reduced their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Trading Up 0.1 %

Shares of Coinbase Global stock opened at $170.22 on Tuesday. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The stock has a market cap of $41.80 billion, a PE ratio of 33.98 and a beta of 3.36. The firm has a 50-day moving average of $197.39 and a 200-day moving average of $221.00. 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 announced 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 return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company earned ($0.42) EPS. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at $16,784,221.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $16,784,221.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares of the company’s stock, valued at $45,428,243. The disclosure for this sale can be found here. Insiders have sold a total of 101,562 shares of company stock worth $20,920,899 in the last 90 days. Company insiders own 23.43% of the company’s stock.

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.