Rockefeller Capital Management L.P. Raises Position in Coinbase Global, Inc. $COIN

Rockefeller Capital Management L.P. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,129 shares of the cryptocurrency exchange’s stock after purchasing an additional 23,969 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.08% of Coinbase Global worth $75,401,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the period. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after acquiring an additional 1,755,146 shares during the period. ARK Investment Management LLC lifted its position in shares of 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 valued at $528,592,000 after acquiring an additional 34,462 shares during the period. Groupama Asset Managment grew its holdings in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after acquiring an additional 1,500,000 shares during the period. Finally, Amundi raised its holdings in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $309.92, for a total value of $85,870,774.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the transaction, the chief operating officer owned 187,802 shares in the company, valued at $58,383,885.76. This represents a 34.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 668,346 shares of company stock worth $211,487,225 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 recent research reports. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $325.00 to $417.00 in a report on Friday, October 3rd. China Renaissance raised their target price on Coinbase Global from $444.60 to $479.30 in a report on Monday, November 3rd. Mizuho lifted their price target on shares of Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Bank of America dropped their price objective on Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $399.94.

Coinbase Global Stock Performance

Shares of COIN stock opened at $284.00 on Friday. The company has a market cap of $76.58 billion, a P/E ratio of 24.57 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, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The business has a 50 day moving average of $333.47 and a two-hundred day moving average of $314.50.

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, topping the consensus estimate of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

About Coinbase Global

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.