Aviva PLC Boosts Stock Position in Coinbase Global, Inc. $COIN

Aviva PLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,641 shares of the cryptocurrency exchange’s stock after acquiring an additional 38,656 shares during the quarter. Aviva PLC’s holdings in Coinbase Global were worth $51,747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Vanguard Group Inc. lifted its holdings in Coinbase Global by 4.8% during 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 in the last quarter. ARK Investment Management LLC raised 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 purchasing an additional 34,462 shares during the period. Groupama Asset Managment lifted its stake in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi boosted its holdings in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares during the period. Finally, Northern Trust Corp increased its stake in Coinbase Global by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock worth $224,318,000 after buying an additional 7,675 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COIN shares. The Goldman Sachs Group lowered their price objective on Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. Argus started coverage on Coinbase Global in a research note on Monday, July 14th. They set a “buy” rating and a $400.00 target price on the stock. Williams Trading set a $405.00 price target on Coinbase Global in a research note on Thursday, July 31st. Benchmark reaffirmed a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $397.36.

Coinbase Global Stock Performance

NASDAQ COIN opened at $309.14 on Friday. The stock has a market capitalization of $79.43 billion, a PE ratio of 26.74 and a beta of 3.67. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The business has a 50 day simple moving average of $333.93 and a two-hundred day simple moving average of $311.19. 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 (NASDAQ:COIN) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating 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 the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $0.28 EPS. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. The trade was a 97.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares in the company, valued at $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 205,657 shares of company stock valued at $67,989,576 in the last three months. Corporate insiders own 17.65% of the company’s stock.

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.