Coinbase Global, Inc. $COIN Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,040 shares of the cryptocurrency exchange’s stock after purchasing an additional 310 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Coinbase Global worth $55,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cadent Capital Advisors LLC grew its holdings in Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after buying an additional 30 shares in the last quarter. Ameriflex Group Inc. boosted its position in shares of Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after acquiring an additional 30 shares during the last quarter. Pettinga Financial Advisors LLC grew its holdings in shares of Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares during the period. Hemington Wealth Management increased its position in Coinbase Global by 12.1% during the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock worth $123,000 after purchasing an additional 38 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in Coinbase Global by 13.7% during the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock worth $113,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related 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 sale, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at $29,212,856.20. This represents a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at $177,519.74. This represents a 97.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 205,657 shares of company stock valued at $67,989,576. 17.65% of the stock is currently owned by corporate insiders.

Coinbase Global Trading Up 4.7%

COIN opened at $309.14 on Friday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The business has a fifty day simple moving average of $333.93 and a 200-day simple moving average of $311.19. The firm has a market cap of $79.43 billion, a P/E ratio of 26.74 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COIN shares. Erste Group Bank began coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They issued a “buy” rating for the company. Citigroup upped their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $325.00 to $417.00 in a research note on Friday, October 3rd. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, October 31st. Finally, Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $397.36.

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.