Itau Unibanco Holding S.A. Buys 14,878 Shares of Coinbase Global, Inc. $COIN

Itau Unibanco Holding S.A. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 531.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,678 shares of the cryptocurrency exchange’s stock after acquiring an additional 14,878 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coinbase Global were worth $6,196,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of COIN. Envestnet Asset Management Inc. raised its position in Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Coinbase Global by 14.7% in the first quarter. Cerity Partners LLC now owns 16,292 shares of the cryptocurrency exchange’s stock valued at $2,806,000 after acquiring an additional 2,088 shares in the last quarter. CWM LLC lifted its stake in Coinbase Global by 14.1% in the first quarter. CWM LLC now owns 6,439 shares of the cryptocurrency exchange’s stock worth $1,109,000 after acquiring an additional 795 shares during the period. Larson Financial Group LLC grew its holdings in Coinbase Global by 46.4% during the 1st quarter. Larson Financial Group LLC now owns 1,113 shares of the cryptocurrency exchange’s stock worth $192,000 after acquiring an additional 353 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Coinbase Global by 78.9% during the 1st quarter. Private Advisor Group LLC now owns 33,308 shares of the cryptocurrency exchange’s stock valued at $5,737,000 after purchasing an additional 14,691 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 0.3%

Coinbase Global stock opened at $284.00 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The stock has a market cap of $76.58 billion, a PE ratio of 24.57 and a beta of 3.67. The stock has a 50-day moving average of $333.47 and a two-hundred day moving average of $314.50. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

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

Insiders Place Their Bets

In related news, 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 value of $85,870,774.08. The sale was disclosed in a document filed 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 dated Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 668,346 shares of company stock valued at $211,487,225. Insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COIN. Compass Point lowered their price target on shares of Coinbase Global from $277.00 to $266.00 in a research report on Friday, October 31st. President Capital increased their target price on Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Erste Group Bank initiated coverage on Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods decreased their price objective on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Finally, China Renaissance lifted their target price on Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.