Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,486 shares of the cryptocurrency exchange’s stock after purchasing an additional 110 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Coinbase Global were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. APEIRON CAPITAL Ltd acquired a new position in shares of Coinbase Global during the 1st quarter valued at about $108,434,000. Sei Investments Co. increased its position in Coinbase Global by 41.7% during the first quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock worth $2,629,000 after purchasing an additional 2,920 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Coinbase Global by 28.9% during the first quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock worth $6,138,000 after purchasing an additional 5,189 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Coinbase Global by 80.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange’s stock valued at $1,157,000 after purchasing an additional 1,941 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Coinbase Global by 53.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,499 shares of the cryptocurrency exchange’s stock valued at $2,518,000 after purchasing an additional 3,306 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 6.4 %

Shares of NASDAQ:COIN opened at $325.41 on Tuesday. The firm has a market cap of $81.47 billion, a PE ratio of 55.53 and a beta of 3.34. The company has a fifty day simple moving average of $202.13 and a 200 day simple moving average of $212.58. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $100.01 and a 12-month high of $334.86.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) EPS. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. Barclays increased their target price on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Mizuho boosted their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $251.00.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the stock in a transaction 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 directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,822 shares of company stock valued at $30,921,194. Corporate 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.