149,663 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 149,663 shares of the cryptocurrency exchange’s stock, valued at approximately $26,665,000. International Assets Investment Management LLC owned about 0.06% of Coinbase Global as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Cowen AND Company LLC raised its stake in shares of Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after purchasing an additional 22,071 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 purchasing an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Coinbase Global by 1,186.6% in the first 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. Finally, American Century Companies Inc. raised its stake in shares of 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 worth $105,389,000 after purchasing an additional 435,886 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 400 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,187 shares of company stock worth $13,158,294. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 5.4 %

NASDAQ:COIN opened at $216.10 on Tuesday. The company has a market cap of $53.07 billion, a P/E ratio of 43.13 and a beta of 3.35. The stock’s fifty day moving average price is $181.38 and its two-hundred day moving average price is $209.38. Coinbase Global, Inc. has a 1 year low of $71.88 and a 1 year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its 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 company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company earned ($0.42) EPS. The company’s revenue was up 104.8% on a year-over-year basis. As a group, analysts expect that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reduced their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Monness Crespi & Hardt assumed coverage on Coinbase Global in a report on Monday. They issued a “buy” rating and a $245.00 target price for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $242.94.

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.