Polianta Ltd Takes $1.82 Million Position in Coinbase Global, Inc. $COIN

Polianta Ltd bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,200 shares of the cryptocurrency exchange’s stock, valued at approximately $1,822,000. Coinbase Global accounts for about 0.8% of Polianta Ltd’s holdings, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vista Investment Partners LLC bought a new stake in shares of Coinbase Global during the 2nd quarter worth about $212,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Coinbase Global by 1.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,017 shares of the cryptocurrency exchange’s stock valued at $4,632,000 after buying an additional 165 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Coinbase Global by 18.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 74,600 shares of the cryptocurrency exchange’s stock valued at $26,147,000 after buying an additional 11,800 shares in the last quarter. Wedmont Private Capital raised its position in shares of Coinbase Global by 2.0% in the 2nd quarter. Wedmont Private Capital now owns 3,221 shares of the cryptocurrency exchange’s stock valued at $1,204,000 after buying an additional 63 shares in the last quarter. Finally, Swedbank AB increased its position in Coinbase Global by 17.5% during the 2nd quarter. Swedbank AB now owns 41,487 shares of the cryptocurrency exchange’s stock worth $14,541,000 after purchasing an additional 6,164 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on COIN. Monness Crespi & Hardt cut shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Jefferies Financial Group raised their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. William Blair began coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an “outperform” rating on the stock. Finally, Citigroup raised their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $352.72.

Coinbase Global Trading Down 2.2%

Shares of Coinbase Global stock opened at $320.56 on Thursday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm has a market cap of $82.36 billion, a PE ratio of 31.00 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The company has a 50 day simple moving average of $338.47 and a two-hundred day simple moving average of $269.23.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the sale, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 4,675 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the completion of the sale, the chief financial officer owned 89,220 shares of the company’s stock, valued at approximately $28,750,252.80. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,202,515 shares of company stock valued at $448,306,941 over the last quarter. Company insiders own 17.65% of the company’s stock.

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.