Meitav Investment House Ltd. Grows Stock Position in Coinbase Global, Inc. $COIN

Meitav Investment House Ltd. raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,874 shares of the cryptocurrency exchange’s stock after buying an additional 74 shares during the quarter. Meitav Investment House Ltd.’s holdings in Coinbase Global were worth $657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of Coinbase Global during the 2nd quarter worth $55,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global during the 1st quarter worth $30,000. S Bank Fund Management Ltd purchased a new position in shares of Coinbase Global in the 1st quarter worth $31,000. Finally, Ameriflex Group Inc. boosted its holdings in Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COIN. China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price objective on the stock. Sanford C. Bernstein raised their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Jefferies Financial Group boosted their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a research note on Tuesday, July 29th. Compass Point reissued a “sell” rating and issued a $248.00 price objective (down previously from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $367.27.

Coinbase Global Price Performance

Shares of COIN stock opened at $375.78 on Wednesday. The firm has a fifty day simple moving average of $323.84 and a 200-day simple moving average of $284.12. The company has a market capitalization of $96.55 billion, a PE ratio of 36.34 and a beta of 3.68. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. Equities research analysts anticipate 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 Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. This represents a 97.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alesia J. Haas sold 1,742 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $322.22, for a total transaction of $561,307.24. Following the completion of the sale, the chief financial officer owned 5,226 shares in the company, valued at approximately $1,683,921.72. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 739,515 shares of company stock valued at $280,933,525. Corporate insiders own 23.43% 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.