Delta Investment Management LLC Makes New $287,000 Investment in Coinbase Global, Inc. $COIN

Delta Investment Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 818 shares of the cryptocurrency exchange’s stock, valued at approximately $287,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after buying an additional 875,359 shares during the last quarter. ARK Investment Management LLC raised 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 worth $528,592,000 after buying an additional 34,462 shares during the last quarter. Groupama Asset Managment raised its position in 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 last quarter. Amundi increased its holdings 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 valued at $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp increased its holdings 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 valued at $224,318,000 after purchasing an additional 7,675 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the transaction, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,657 shares of company stock valued at $67,479,576. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 9.8%

Shares of COIN stock opened at $354.46 on Monday. The company’s 50-day moving average price is $329.63 and its 200-day moving average price is $300.44. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock has a market cap of $91.07 billion, a price-to-earnings ratio of 34.28 and a beta of 3.68. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm had revenue of $1.50 billion for 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 company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of several recent research reports. Wall Street Zen raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Argus initiated coverage on shares of Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 target price for the company. Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They set a “buy” rating for the company. HC Wainwright reaffirmed a “sell” rating and set a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Coinbase Global from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $342.00 to $404.00 in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $384.12.

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.