Coinbase Global, Inc. (NASDAQ:COIN) Holdings Lifted by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 39.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,022 shares of the cryptocurrency exchange’s stock after purchasing an additional 7,423 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Coinbase Global were worth $5,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in COIN. Salem Investment Counselors Inc. grew its position in Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares in the last quarter. Intech Investment Management LLC raised its holdings in Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares in the last quarter. Paragon Capital Management Ltd lifted its position in Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the period. QRG Capital Management Inc. lifted its position in Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in Coinbase Global by 93.5% during the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after purchasing an additional 7,148 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

COIN stock opened at $170.09 on Monday. The firm has a 50 day simple moving average of $198.85 and a 200 day simple moving average of $221.63. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The stock has a market cap 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 quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned ($0.42) EPS. The company’s quarterly revenue was up 104.8% on a year-over-year basis. Research analysts anticipate that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COIN shares. The Goldman Sachs Group cut their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. HC Wainwright lowered their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Bank of America reduced their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $246.06.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated 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 approximately $30,436,386.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction 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, 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 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. Insiders have sold 111,562 shares of company stock worth $23,115,399 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

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.