Central Asset Investments & Management Holdings HK Ltd Buys Shares of 1,350 Coinbase Global, Inc. $COIN

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,350 shares of the cryptocurrency exchange’s stock, valued at approximately $473,000.

Several other large investors have also modified their holdings of the business. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the 2nd quarter valued at $30,000. S Bank Fund Management Ltd purchased a new position in Coinbase Global during the first quarter worth $31,000. SouthState Corp raised its holdings in shares of Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Finally, City State Bank purchased a new stake in shares of Coinbase Global in the second quarter valued at $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on COIN shares. The Goldman Sachs Group dropped their price objective on Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. BTIG Research lifted their price target on shares of Coinbase Global from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Mizuho boosted their price objective on shares of Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Monness Crespi & Hardt upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a research report on Monday. Finally, President Capital lifted their target price on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus target price of $399.94.

Coinbase Global Trading Down 4.4%

NASDAQ COIN opened at $304.01 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67. The company’s 50 day moving average price is $334.21 and its 200 day moving average price is $313.48. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share 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 analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $0.28 EPS. Coinbase Global’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at approximately $28,475,608.64. This represents a 10.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $301.46, for a total transaction of $3,014,600.00. Following the completion of the transaction, the director directly owned 204,973 shares in the company, valued at approximately $61,791,160.58. This trade represents a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 487,658 shares of company stock valued at $154,461,520 in the last three months. 23.43% of the stock is owned by corporate insiders.

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.