Coinbase Global, Inc. (NASDAQ:COIN) Holdings Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 94.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 30,649 shares of the cryptocurrency exchange’s stock after selling 496,863 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Coinbase Global were worth $6,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in 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 during the period. Renaissance Technologies LLC raised its stake in shares of Coinbase Global by 185.9% during 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. American Century Companies Inc. lifted its holdings in Coinbase Global by 1,136.7% in the second 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 during the period. APEIRON CAPITAL Ltd bought a new position in Coinbase Global in the 1st quarter valued at about $108,434,000. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new position in Coinbase Global during the 4th quarter valued at about $36,241,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.95, for a total transaction of $335,925.00. Following the completion of the sale, the chief operating officer now owns 205,971 shares of the company’s stock, valued at $46,127,205.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global 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 completion of the sale, the chief operating officer now owns 205,971 shares of the company’s stock, valued at approximately $46,127,205.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 450 shares of the 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 transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $380,530.20. The disclosure for this sale can be found here. Insiders sold a total of 101,562 shares of company stock valued at $20,920,899 over the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $171.68 on Wednesday. The company has a 50-day moving average of $195.80 and a two-hundred day moving average of $220.40. The stock has a market cap of $42.16 billion, a price-to-earnings ratio of 34.27 and a beta of 3.36. 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, Inc. has a one year low of $69.63 and a one year high of $283.48.

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). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted ($0.42) EPS. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of several recent analyst reports. HC Wainwright decreased their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. 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. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Compass Point decreased their target price 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. 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 an average rating of “Hold” and a consensus price target of $246.06.

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.