Terra Nova Asset Management LLC Acquires Shares of 907 Coinbase Global, Inc. $COIN

Terra Nova Asset Management LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 907 shares of the cryptocurrency exchange’s stock, valued at approximately $318,000.

A number of other institutional investors have also modified their holdings of COIN. Prudential PLC lifted its stake in Coinbase Global by 152.4% during the second quarter. Prudential PLC now owns 6,710 shares of the cryptocurrency exchange’s stock worth $2,352,000 after purchasing an additional 4,052 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in shares of Coinbase Global during the second quarter worth $268,000. Ensign Peak Advisors Inc lifted its position in shares of Coinbase Global by 677.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 126,291 shares of the cryptocurrency exchange’s stock worth $44,264,000 after buying an additional 110,046 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Coinbase Global by 544.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 419 shares of the cryptocurrency exchange’s stock worth $140,000 after buying an additional 354 shares during the last quarter. Finally, Wealthspire Advisors LLC acquired a new position in shares of Coinbase Global in the 2nd quarter valued at about $370,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COIN shares. Keefe, Bruyette & Woods decreased their target price 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. Redburn Partners set a $417.00 price objective on Coinbase Global in a research note on Friday, October 3rd. Citigroup raised their target price on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. China Renaissance upped their price target on shares of Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. Finally, Erste Group Bank began coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They issued a “buy” rating on the stock. One 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.94.

Insider Buying and Selling at Coinbase Global

In related news, COO Emilie Choi sold 100,000 shares of the firm’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 completion of the transaction, the chief operating officer owned 187,802 shares of the company’s stock, valued at $58,383,885.76. This trade represents a 34.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 762,830 shares of company stock valued at $237,203,979. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Stock Down 1.7%

Coinbase Global stock opened at $257.29 on Thursday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The stock has a market cap of $69.38 billion, a price-to-earnings ratio of 22.26 and a beta of 3.67. The company’s 50-day moving average price is $330.40 and its two-hundred day moving average price is $315.72. The company has a current ratio of 2.40, a quick 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 net margin of 41.99% and a return on equity of 15.70%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue was up 55.1% on a year-over-year basis. On average, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.