Citrine Capital LLC Invests $241,000 in Coinbase Global, Inc. $COIN

Citrine Capital LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 688 shares of the cryptocurrency exchange’s stock, valued at approximately $241,000.

Other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment increased its position in 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 purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 4.8% during 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 during the period. Nuveen LLC purchased a new position in shares of Coinbase Global in the 1st quarter valued at about $83,454,000. Amundi lifted its stake in shares of Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after purchasing an additional 481,786 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Coinbase Global by 18,515.4% during the first quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange’s stock worth $33,312,000 after buying an additional 192,375 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Barclays upped their target price on Coinbase Global from $352.00 to $365.00 and gave the company an “equal weight” rating in a report on Friday, August 15th. William Blair began coverage on Coinbase Global in a research note on Wednesday, June 11th. They set an “outperform” rating for the company. Piper Sandler reiterated a “neutral” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $356.18.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 714,515 shares of company stock valued at $272,046,775 over the last quarter. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $337.49 on Wednesday. The stock has a market capitalization of $86.71 billion, a P/E ratio of 32.64 and a beta of 3.68. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. 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 firm’s 50-day moving average is $325.38 and its two-hundred day moving average is $277.73.

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

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.