Mount Lucas Management LP Has $634,000 Stock Holdings in Coinbase Global, Inc. $COIN

Mount Lucas Management LP decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 11.4% during the second quarter, HoldingsChannel reports. The firm owned 1,808 shares of the cryptocurrency exchange’s stock after selling 232 shares during the quarter. Mount Lucas Management LP’s holdings in Coinbase Global were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings 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 buying an additional 875,359 shares during the period. Geode Capital Management LLC lifted its position in Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock worth $1,940,805,000 after acquiring an additional 1,755,146 shares during the last quarter. ARK Investment Management LLC lifted its position in 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 acquiring an additional 34,462 shares during the last quarter. Groupama Asset Managment boosted its holdings in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares during the period. Finally, Amundi grew its position 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 last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $263.95 on Tuesday. The firm has a market capitalization of $71.17 billion, a PE ratio of 22.83 and a beta of 3.67. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The business’s 50 day moving average is $332.70 and its 200-day moving average is $315.73.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business’s revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COIN. Keefe, Bruyette & Woods cut their price objective on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Mizuho lifted their price target on Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, October 31st. Cantor Fitzgerald reduced their price objective on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Compass Point dropped their target price on shares of Coinbase Global from $277.00 to $266.00 in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.94.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 55,688 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $321.81, for a total value of $17,920,955.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $320.67, for a total transaction of $8,016,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at $168,672.42. This trade represents a 97.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 668,346 shares of company stock worth $211,487,225 in the last 90 days. 23.43% of the stock is currently owned by insiders.

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.