US Bancorp DE Raises Holdings in Coinbase Global, Inc. $COIN

US Bancorp DE grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 25.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,280 shares of the cryptocurrency exchange’s stock after buying an additional 1,893 shares during the quarter. US Bancorp DE’s holdings in Coinbase Global were worth $3,253,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Cadent Capital Advisors LLC lifted its holdings in shares of Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. lifted its holdings in shares of Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after buying an additional 30 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Coinbase Global by 4.2% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,015 shares of the cryptocurrency exchange’s stock worth $356,000 after buying an additional 41 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of Coinbase Global by 1.6% in the 2nd quarter. Pallas Capital Advisors LLC now owns 2,662 shares of the cryptocurrency exchange’s stock worth $933,000 after buying an additional 41 shares during the period. Finally, Clare Market Investments LLC lifted its holdings in shares of Coinbase Global by 1.8% in the 2nd quarter. Clare Market Investments LLC now owns 2,552 shares of the cryptocurrency exchange’s stock worth $894,000 after buying an additional 45 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 4.3%

Coinbase Global stock opened at $341.55 on Wednesday. The stock has a 50-day moving average of $326.71 and a two-hundred day moving average of $290.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The stock has a market cap of $87.76 billion, a PE ratio of 33.03 and a beta of 3.68.

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

Analyst Ratings Changes

Several brokerages have weighed in on COIN. Keefe, Bruyette & Woods lowered their target price on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a report on Monday, August 4th. China Renaissance began coverage on Coinbase Global in a research report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price target for the company. Compass Point reissued a “sell” rating and issued a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. HC Wainwright reissued a “sell” rating and issued a $300.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Mizuho set a $300.00 price target on Coinbase Global in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $367.94.

Insider Transactions at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares of the company’s stock, valued at approximately $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,675 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $322.24, for a total value of $1,506,472.00. Following the completion of the transaction, the chief financial officer directly owned 89,220 shares in the company, valued at $28,750,252.80. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 174,515 shares of company stock valued at $56,329,451 over the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global 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.