Coinbase Global, Inc. $COIN Shares Acquired by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 73.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 83,058 shares of the cryptocurrency exchange’s stock after purchasing an additional 35,068 shares during the period. Liontrust Investment Partners LLP’s holdings in Coinbase Global were worth $29,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COIN. Vanguard Group Inc. increased its position in shares of Coinbase Global by 25.5% in the second quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock valued at $8,484,964,000 after buying an additional 4,914,407 shares in the last quarter. Geode Capital Management LLC increased its holdings in Coinbase Global by 46.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock worth $1,940,805,000 after acquiring an additional 1,755,146 shares in the last quarter. Groupama Asset Managment raised its position in Coinbase Global by 100.0% during the first 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. Norges Bank purchased a new position in Coinbase Global during the second quarter valued at $1,044,354,000. Finally, Amundi grew its position in shares of Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after purchasing an additional 481,786 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COIN shares. B. Riley upped their price target on shares of Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Jefferies Financial Group reissued a “hold” rating and set a $384.00 target price on shares of Coinbase Global in a report on Wednesday, October 29th. Mizuho raised their target price on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Cantor Fitzgerald dropped their price target on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, China Renaissance increased their price objective on Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $394.67.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 2,750 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $280.27, for a total value of $770,742.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $273.86, for a total transaction of $10,954,400.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 815,846 shares of company stock valued at $248,642,353 in the last three months. 16.56% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

COIN stock opened at $267.46 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm has a market capitalization of $72.12 billion, a PE ratio of 23.14 and a beta of 3.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The business has a 50 day simple moving average of $306.99 and a 200-day simple moving average of $318.61.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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 return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business earned $0.28 EPS. The firm’s quarterly revenue was up 55.1% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.