Fidelis Capital Partners LLC Makes New $250,000 Investment in Coinbase Global, Inc. $COIN

Fidelis Capital Partners LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, HoldingsChannel reports. The firm purchased 714 shares of the cryptocurrency exchange’s stock, valued at approximately $250,000.

A number of other hedge funds have also made changes to their positions in COIN. Vanguard Group Inc. raised its holdings in Coinbase Global by 4.8% during the first 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 in the last quarter. ARK Investment Management LLC increased its position in shares of 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 valued at $528,592,000 after purchasing an additional 34,462 shares during the period. Groupama Asset Managment raised its stake in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi lifted its holdings 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 buying an additional 481,786 shares during the period. Finally, Northern Trust Corp boosted its stake in Coinbase Global by 0.6% during the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after buying an additional 7,675 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on COIN. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $325.00 to $417.00 in a research report on Friday, October 3rd. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a research note on Friday, October 3rd. Rosenblatt Securities lifted their price target on shares of Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. Keefe, Bruyette & Woods dropped 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. Finally, BTIG Research raised their price objective on Coinbase Global from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $399.94.

Coinbase Global Trading Down 4.4%

Coinbase Global stock opened at $304.01 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67. The company has a 50 day moving average price of $334.21 and a 200 day moving average price of $313.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The company 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 company’s revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the transaction, the insider owned 82,328 shares in the company, valued at $28,475,608.64. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $177,519.74. This represents a 97.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 487,658 shares of company stock worth $154,461,520. 23.43% of the stock is currently owned by company insiders.

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.