Acadian Asset Management LLC Buys New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Acadian Asset Management LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,900 shares of the cryptocurrency exchange’s stock, valued at approximately $422,000.

A number of other hedge funds also recently bought and sold shares of COIN. Vanguard Group Inc. increased 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 worth $4,482,190,000 after buying an additional 2,624,989 shares during the last quarter. Norges Bank bought a new stake in Coinbase Global during the fourth quarter worth approximately $202,936,000. Canada Pension Plan Investment Board increased its stake in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the last quarter. APEIRON CAPITAL Ltd bought a new stake in shares of Coinbase Global in the 1st quarter valued at approximately $108,434,000. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $36,241,000. Hedge funds and other 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 the firm’s stock in a transaction dated 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 of the company’s stock, valued at $30,436,386.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. The disclosure for this sale can be found here. In the last three months, insiders sold 111,562 shares of company stock valued at $23,115,399. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $162.64 on Thursday. 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 company has a 50 day moving average price of $200.73 and a 200-day moving average price of $222.38. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The stock has a market capitalization of $39.94 billion, a PE ratio of 32.46 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last issued 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). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s quarterly revenue was up 104.8% on a year-over-year basis. During the same period last year, the firm earned ($0.42) EPS. Equities analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COIN. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Bank of America lowered their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. 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 research note on Friday, August 2nd. Finally, Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Company 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.