Caxton Associates LP Purchases New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Caxton Associates LP purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,828 shares of the cryptocurrency exchange’s stock, valued at approximately $628,000.

Other institutional investors have also made changes to their positions in the company. Salem Investment Counselors Inc. raised its holdings in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the last quarter. Intech Investment Management LLC increased its position in Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares during the period. Paragon Capital Management Ltd increased its position in Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the period. QRG Capital Management Inc. increased its position in Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. increased its position in Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after purchasing an additional 7,148 shares during the period. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,062 shares of company stock worth $20,584,974. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COIN. HC Wainwright lowered their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Compass Point lowered their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Bank of America lowered their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $246.06.

Coinbase Global Price Performance

Shares of COIN opened at $179.93 on Friday. 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 stock has a 50 day simple moving average of $193.09 and a 200 day simple moving average of $219.75. Coinbase Global, Inc. has a 52-week low of $69.95 and a 52-week high of $283.48. The firm has a market capitalization of $44.71 billion, a PE ratio of 35.91 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 firm 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 company’s revenue was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) EPS. Sell-side analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

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.