Public Sector Pension Investment Board Grows Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Public Sector Pension Investment Board grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,178 shares of the cryptocurrency exchange’s stock after buying an additional 1,727 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coinbase Global were worth $5,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COIN. EverSource Wealth Advisors LLC grew its holdings in Coinbase Global by 69.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the cryptocurrency exchange’s stock worth $352,000 after acquiring an additional 646 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Coinbase Global by 18.9% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,805 shares of the cryptocurrency exchange’s stock worth $623,000 after purchasing an additional 445 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of Coinbase Global by 342.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,412 shares of the cryptocurrency exchange’s stock worth $314,000 after purchasing an additional 1,093 shares during the period. Sei Investments Co. boosted its stake in shares of Coinbase Global by 22.3% during the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after purchasing an additional 2,212 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Coinbase Global by 8.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 37,825 shares of the cryptocurrency exchange’s stock valued at $8,399,000 after buying an additional 3,002 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $115,883.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The disclosure for this sale can be found here. Insiders have sold 101,562 shares of company stock worth $20,920,899 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 2.7 %

Coinbase Global stock opened at $167.08 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $69.71 and a fifty-two week high of $283.48. The company has a market cap of $41.52 billion, a PE ratio of 33.35 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. The business’s 50-day simple moving average is $194.16 and its two-hundred day simple moving average is $220.03.

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). 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 during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company posted ($0.42) EPS. Coinbase Global’s quarterly revenue was up 104.8% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $206.00 to $169.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Coinbase Global currently 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.