Aviva PLC Acquires 38,656 Shares of Coinbase Global, Inc. $COIN

Aviva PLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 147,641 shares of the cryptocurrency exchange’s stock after purchasing an additional 38,656 shares during the period. Aviva PLC owned approximately 0.06% of Coinbase Global worth $51,747,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after buying an additional 9,952 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Coinbase Global by 38.5% in the 1st quarter. TD Private Client Wealth LLC now owns 611 shares of the cryptocurrency exchange’s stock worth $105,000 after purchasing an additional 170 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Coinbase Global by 29.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 1,813 shares of the cryptocurrency exchange’s stock valued at $312,000 after purchasing an additional 409 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Coinbase Global by 11.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock valued at $4,548,000 after purchasing an additional 2,748 shares during the last quarter. Finally, Greenleaf Trust increased its stake in Coinbase Global by 4.7% during the 1st quarter. Greenleaf Trust now owns 1,596 shares of the cryptocurrency exchange’s stock valued at $275,000 after purchasing an additional 71 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

COIN stock opened at $309.14 on Friday. The company has a market cap of $79.43 billion, a P/E ratio of 26.74 and a beta of 3.67. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock’s fifty day moving average price is $333.93 and its 200-day moving average price is $311.19.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating 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 company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. Coinbase Global’s revenue for the quarter was up 55.1% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COIN. Bank of America cut their price target on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Citigroup upped their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Monness Crespi & Hardt downgraded Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Canaccord Genuity Group restated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Finally, President Capital increased their price objective on Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $397.36.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the sale, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at approximately $29,212,856.20. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $177,519.74. This represents a 97.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 205,657 shares of company stock valued at $67,989,576 in the last quarter. 17.65% of the stock is currently owned by 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.