Coinbase Global, Inc. $COIN Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 34.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,513 shares of the cryptocurrency exchange’s stock after acquiring an additional 390 shares during the quarter. GAMMA Investing LLC’s holdings in Coinbase Global were worth $530,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the period. ARK Investment Management LLC raised its stake 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 worth $528,592,000 after buying an additional 34,462 shares during the period. Groupama Asset Managment raised its stake in shares of Coinbase Global by 100.0% during 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 during the period. Amundi raised its stake 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 raised its stake in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock worth $224,318,000 after buying an additional 7,675 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Down 4.7%

NASDAQ COIN opened at $306.69 on Friday. The business has a fifty day moving average price of $330.45 and a 200 day moving average price of $274.16. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market cap of $78.80 billion, a P/E ratio of 29.66 and a beta of 3.68.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on COIN. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Williams Trading set a $405.00 target price on Coinbase Global in a research note on Thursday, July 31st. Compass Point reaffirmed a “sell” rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Citigroup upped their target price on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Barclays upped their target price on Coinbase Global from $352.00 to $365.00 and gave the stock an “equal weight” rating in a research note on Friday, August 15th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $356.18.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global 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 value of $4,798,441.20. Following the completion of the sale, the insider directly owned 82,328 shares in the company, 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 through the SEC website. Also, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 749,515 shares of company stock valued at $283,990,425. 17.65% of the stock is owned by corporate 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.