Federation des caisses Desjardins du Quebec Raises Stock Position in Coinbase Global, Inc. $COIN

Federation des caisses Desjardins du Quebec grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 23.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,248 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,558 shares during the period. Federation des caisses Desjardins du Quebec’s holdings in Coinbase Global were worth $1,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vivaldi Capital Management LP increased its stake in Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after purchasing an additional 47 shares during the period. Brooklyn Investment Group increased its stake in Coinbase Global by 7.1% during the first quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange’s stock worth $124,000 after purchasing an additional 48 shares during the period. Rede Wealth LLC increased its stake in Coinbase Global by 0.6% during the first quarter. Rede Wealth LLC now owns 8,027 shares of the cryptocurrency exchange’s stock worth $1,382,000 after purchasing an additional 50 shares during the period. Callan Capital LLC increased its stake in Coinbase Global by 5.1% during the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange’s stock worth $215,000 after purchasing an additional 61 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Coinbase Global by 1.4% during the first quarter. EP Wealth Advisors LLC now owns 4,588 shares of the cryptocurrency exchange’s stock worth $790,000 after purchasing an additional 64 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $299.07 on Monday. The firm has a market capitalization of $76.84 billion, a P/E ratio of 28.92 and a beta of 3.68. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. 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 firm’s 50 day moving average is $344.04 and its two-hundred day moving average is $264.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Coinbase Global from $270.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 1st. Barclays raised their target price on shares of Coinbase Global from $352.00 to $365.00 and gave the company an “equal weight” rating in a report on Friday, August 15th. Monness Crespi & Hardt cut shares of Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. William Blair assumed coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They issued an “outperform” rating on the stock. Finally, HC Wainwright reaffirmed a “sell” rating and issued a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $352.72.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,180,871 shares of company stock valued at $439,493,026 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

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.