Rokos Capital Management LLP Invests $2.07 Million in Coinbase Global, Inc. $COIN

Rokos Capital Management LLP acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,908 shares of the cryptocurrency exchange’s stock, valued at approximately $2,071,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in Coinbase Global by 28.0% in the 1st quarter. Townsquare Capital LLC now owns 6,792 shares of the cryptocurrency exchange’s stock valued at $1,170,000 after purchasing an additional 1,484 shares during the period. Entropy Technologies LP purchased a new stake in shares of Coinbase Global in the first quarter worth $759,000. Nuveen LLC bought a new stake in Coinbase Global during the first quarter valued at $83,454,000. SouthState Corp boosted its stake in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares during the period. Finally, Independent Advisor Alliance grew its position in Coinbase Global by 6.9% during the first quarter. Independent Advisor Alliance now owns 8,004 shares of the cryptocurrency exchange’s stock worth $1,378,000 after buying an additional 516 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 0.8%

Shares of COIN opened at $275.09 on Thursday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a 50 day simple moving average of $311.31 and a two-hundred day simple moving average of $318.57. The firm has a market cap of $74.18 billion, a P/E ratio of 23.80 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business posted $0.28 EPS. The business’s quarterly revenue was up 55.1% on a year-over-year basis. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,787 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $244.49, for a total transaction of $436,903.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 976 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $260.00, for a total value of $253,760.00. Following the transaction, the insider owned 74,835 shares in the company, valued at approximately $19,457,100. The trade was a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 815,846 shares of company stock valued at $248,642,353. 16.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COIN has been the topic of several recent analyst reports. HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and raised their price target for the company from $300.00 to $425.00 in a report on Thursday, October 30th. Jefferies Financial Group reissued a “hold” rating and set a $384.00 price objective on shares of Coinbase Global in a report on Wednesday, October 29th. Barclays lowered their target price on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Cantor Fitzgerald dropped their target price on shares of 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, Benchmark reissued a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $396.94.

About Coinbase Global

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.