Coinbase Global, Inc. $COIN Shares Acquired by National Pension Service

National Pension Service boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 58.4% during the 2nd quarter, Holdings Channel reports. The fund owned 447,040 shares of the cryptocurrency exchange’s stock after acquiring an additional 164,770 shares during the quarter. National Pension Service’s holdings in Coinbase Global were worth $156,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global in the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the second quarter valued at $30,000. S Bank Fund Management Ltd purchased a new stake in Coinbase Global during the 1st quarter worth about $31,000. SouthState Corp boosted its position in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Finally, City State Bank purchased a new position in shares of Coinbase Global in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $304.00 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a 50-day simple moving average of $334.24 and a 200-day simple moving average of $313.42. The company has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67.

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 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue was up 55.1% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The SEC filing for this sale provides additional information. Insiders have sold a total of 487,658 shares of company stock worth $154,461,520 in the last three months. Insiders own 17.65% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research analyst reports. Mizuho upped their price target on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Piper Sandler restated a “neutral” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. JPMorgan Chase & Co. cut their price target on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Finally, Citigroup raised their price objective on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.94.

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.