Citizens Financial Group Inc. RI Has $1.14 Million Stock Holdings in Coinbase Global, Inc. $COIN

Citizens Financial Group Inc. RI raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 12.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,242 shares of the cryptocurrency exchange’s stock after buying an additional 359 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Coinbase Global were worth $1,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. Avantax Advisory Services Inc. boosted its stake in Coinbase Global by 30.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 9,417 shares of the cryptocurrency exchange’s stock valued at $3,301,000 after purchasing an additional 2,206 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Coinbase Global by 13.2% in the second quarter. Westwood Holdings Group Inc. now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $1,387,000 after purchasing an additional 461 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Coinbase Global by 32.2% during the second quarter. Intech Investment Management LLC now owns 54,399 shares of the cryptocurrency exchange’s stock valued at $19,066,000 after buying an additional 13,250 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in Coinbase Global during the second quarter worth $2,884,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Coinbase Global in the 2nd quarter valued at $18,173,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 668,346 shares of company stock valued at $211,487,225. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COIN. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. B. Riley increased their price objective on shares of Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Bank of America cut their target price on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Finally, Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

Coinbase Global Trading Down 7.1%

Shares of COIN stock opened at $263.95 on Tuesday. The company’s fifty day simple moving average is $332.70 and its two-hundred day simple moving average is $315.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock has a market capitalization of $71.17 billion, a price-to-earnings ratio of 22.83 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping 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 firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 55.1% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.