S Bank Fund Management Ltd Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

S Bank Fund Management Ltd bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 179 shares of the cryptocurrency exchange’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the fourth quarter worth about $25,000. Copia Wealth Management acquired a new position in Coinbase Global during the fourth quarter valued at $26,000. Bessemer Group Inc. raised its position in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the first quarter valued at $30,000. Finally, SouthState Corp raised its position in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,160,704 shares of company stock valued at $430,750,982 over the last 90 days. Company insiders own 17.65% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Rosenblatt Securities restated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Citigroup raised their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Sanford C. Bernstein raised their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. The Goldman Sachs Group raised their price target on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a “neutral” rating in a report on Monday, July 7th. Finally, William Blair initiated coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $352.18.

Coinbase Global Trading Up 1.4%

NASDAQ:COIN opened at $327.01 on Thursday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a market cap of $84.02 billion, a price-to-earnings ratio of 31.63 and a beta of 3.70. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $337.03 and its 200-day moving average is $260.87.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current 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.