Silvant Capital Management LLC Grows Stock Holdings in Coinbase Global, Inc. $COIN

Silvant Capital Management LLC grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 115.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,527 shares of the cryptocurrency exchange’s stock after purchasing an additional 6,710 shares during the quarter. Silvant Capital Management LLC’s holdings in Coinbase Global were worth $2,158,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after buying an additional 34,462 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock worth $224,318,000 after buying an additional 7,675 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Coinbase Global by 29.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange’s stock worth $243,118,000 after buying an additional 222,789 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 0.8%

Coinbase Global stock opened at $308.48 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm has a 50 day moving average price of $347.98 and a 200 day moving average price of $262.52. The company has a market capitalization of $79.26 billion, a PE ratio of 29.83 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the business earned $0.14 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at $190,732.86. This trade represents a 99.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 1,180,432 shares of company stock valued at $437,828,135. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. William Blair began coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They set an “outperform” rating for the company. Benchmark raised their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Barclays raised their price target on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. Finally, Oppenheimer restated an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $352.72.

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.