Coinbase Global, Inc. (NASDAQ:COIN) Stake Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 153.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,666 shares of the cryptocurrency exchange’s stock after acquiring an additional 123,454 shares during the period. Hsbc Holdings PLC owned about 0.08% of Coinbase Global worth $45,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of 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 valued at $4,482,190,000 after buying an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC grew its position in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global in the 1st quarter valued at $108,434,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of 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 restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note 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 on the stock in a research note on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Finally, Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $206.00 to $169.00 in a research report on Friday, September 6th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $246.06.

Coinbase Global Stock Up 1.1 %

COIN opened at $170.09 on Friday. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The company has a market capitalization of $41.77 billion, a P/E ratio of 33.95 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s fifty day moving average price is $199.80 and its two-hundred day moving average price is $222.00.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) 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 analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the company earned ($0.42) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.95, for a total value of $335,925.00. Following the completion of the transaction, the chief operating officer now owns 205,971 shares in the company, valued at approximately $46,127,205.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. Insiders sold 111,562 shares of company stock worth $23,115,399 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

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.