Central Asset Investments & Management Holdings HK Ltd Buys Shares of 1,350 Coinbase Global, Inc. $COIN

Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, Holdings Channel.com reports. The firm acquired 1,350 shares of the cryptocurrency exchange’s stock, valued at approximately $473,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares in 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 valued at $528,592,000 after purchasing an additional 34,462 shares during the period. Groupama Asset Managment boosted its position 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 purchasing an additional 1,500,000 shares during the last quarter. Amundi grew its position in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares during the period. Finally, Northern Trust Corp increased its stake in Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after purchasing an additional 7,675 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COIN. Jefferies Financial Group reaffirmed a “hold” rating and issued a $384.00 price target on shares of Coinbase Global in a research note on Wednesday, October 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Citigroup boosted their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.94.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This represents a 15.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 487,658 shares of company stock valued at $154,461,520. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $304.01 on Wednesday. The firm has a market cap of $81.97 billion, a PE ratio of 26.30 and a beta of 3.67. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The business’s 50 day moving average price is $334.21 and its two-hundred day moving average price is $313.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40.

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. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 55.1% on a year-over-year basis. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.