Elo Mutual Pension Insurance Co Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Elo Mutual Pension Insurance Co grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 16,292 shares of the cryptocurrency exchange’s stock after acquiring an additional 441 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Coinbase Global were worth $3,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COIN. Vanguard Group Inc. grew its stake 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 purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $202,936,000. Renaissance Technologies LLC grew its stake in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on COIN shares. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. HC Wainwright cut their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Stock Up 0.1 %

COIN stock opened at $162.64 on Thursday. The company has a market cap of $39.94 billion, a price-to-earnings ratio of 32.46 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 moving average is $200.73 and its two-hundred day moving average is $222.38. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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). 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%. Coinbase Global’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The shares were 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. Over the last ninety days, insiders have sold 111,562 shares of company stock worth $23,115,399. Company insiders own 23.43% of the company’s stock.

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.