Commerzbank Aktiengesellschaft FI Buys Shares of 1,530 Coinbase Global, Inc. $COIN

Commerzbank Aktiengesellschaft FI bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,530 shares of the cryptocurrency exchange’s stock, valued at approximately $537,000.

Several other hedge funds have also recently made changes to their positions in the company. Cadent Capital Advisors LLC raised its stake in shares of Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. raised its stake in shares of 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 buying an additional 30 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Coinbase Global by 13.7% in the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock valued at $113,000 after buying an additional 39 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Coinbase Global by 4.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,015 shares of the cryptocurrency exchange’s stock valued at $356,000 after purchasing an additional 41 shares during the period. Finally, Pallas Capital Advisors LLC raised its stake in shares of Coinbase Global by 1.6% during the 2nd quarter. Pallas Capital Advisors LLC now owns 2,662 shares of the cryptocurrency exchange’s stock valued at $933,000 after purchasing an additional 41 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on COIN shares. Bank of America decreased their price objective on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Rothschild & Co Redburn upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. HC Wainwright reiterated a “sell” rating and set a $300.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. The Goldman Sachs Group boosted their price objective on Coinbase Global from $351.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Argus started coverage on Coinbase Global in a research note on Monday, July 14th. They set a “buy” rating and a $400.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.12.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 15,439 shares of the company’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 transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction dated 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 owned 526 shares of the company’s stock, valued at $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 721,764 shares of company stock valued at $273,595,798 over the last quarter. Company insiders own 17.65% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $357.01 on Friday. The firm has a market capitalization of $91.73 billion, a P/E ratio of 34.53 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $325.06 and its two-hundred day simple moving average is $287.15. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

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