DekaBank Deutsche Girozentrale Purchases 6,428 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

DekaBank Deutsche Girozentrale boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 23.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,522 shares of the cryptocurrency exchange’s stock after purchasing an additional 6,428 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Coinbase Global were worth $7,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in Coinbase Global by 12.7% during the second quarter. Oppenheimer & Co. Inc. now owns 7,794 shares of the cryptocurrency exchange’s stock valued at $1,732,000 after buying an additional 881 shares during the period. BOKF NA grew its holdings in shares of Coinbase Global by 341.5% during the second quarter. BOKF NA now owns 12,811 shares of the cryptocurrency exchange’s stock worth $2,847,000 after purchasing an additional 9,909 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Coinbase Global during the second quarter worth about $210,000. Qsemble Capital Management LP bought a new position in shares of Coinbase Global in the second quarter worth approximately $802,000. Finally, American Century Companies Inc. raised its stake in Coinbase Global by 1,136.7% in the second 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. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Down 1.0 %

NASDAQ COIN opened at $161.50 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $39.66 billion, a PE ratio of 32.24 and a beta of 3.36. The stock’s 50 day moving average is $203.02 and its 200 day moving average is $223.11. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48.

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

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares in the company, valued at $41,901,248.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,062 shares of company stock worth $22,872,039. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research analyst reports. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $206.00 to $169.00 in a report on Friday, September 6th. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Bank of America cut their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. One equities research 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.