Assenagon Asset Management S.A. Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Assenagon Asset Management S.A. boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,364 shares of the cryptocurrency exchange’s stock after acquiring an additional 783 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coinbase Global were worth $1,084,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in shares of Coinbase Global by 14.8% during the second quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock valued at $9,966,000 after purchasing an additional 5,767 shares during the period. AE Wealth Management LLC grew its stake in Coinbase Global by 17.9% in the 2nd quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock worth $209,000 after acquiring an additional 143 shares in the last quarter. Sei Investments Co. increased its position in shares of Coinbase Global by 22.3% during the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock worth $2,694,000 after acquiring an additional 2,212 shares during the period. Caxton Associates LP bought a new stake in shares of Coinbase Global during the second quarter valued at approximately $628,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Coinbase Global by 103.8% in the second quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock valued at $6,829,000 after purchasing an additional 15,652 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 367,489 shares of company stock valued at $109,624,297. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 0.7 %

NASDAQ:COIN opened at $298.00 on Friday. The company’s 50 day moving average is $290.54 and its two-hundred day moving average is $233.72. The company has a market cap of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. 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 (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. Analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COIN shares. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Needham & Company LLC lifted their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Mizuho upped their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $282.83.

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.