Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 18.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,805 shares of the cryptocurrency exchange’s stock after buying an additional 445 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coinbase Global were worth $623,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of COIN. Fifth Third Bancorp increased its stake in shares of Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares during the period. Versant Capital Management Inc increased its position in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the period. Larson Financial Group LLC raised its stake in shares of Coinbase Global by 12.1% in the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after buying an additional 57 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Coinbase Global by 3.1% in the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after buying an additional 61 shares during the period. Finally, Capital Advisors Wealth Management LLC lifted its holdings in shares of Coinbase Global by 4.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock valued at $314,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 1.1 %

Shares of NASDAQ COIN opened at $170.09 on Friday. The firm has a market capitalization of $41.77 billion, a PE ratio of 33.95 and a beta of 3.36. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $198.85 and a two-hundred day moving average price of $221.59.

Coinbase Global (NASDAQ:COIN) last announced 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 company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The disclosure for this sale can be found here. Insiders have sold a total of 111,562 shares of company stock worth $23,115,399 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research analyst reports. HC Wainwright lowered their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Bank of America dropped their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $246.06.

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.