907 Shares in Coinbase Global, Inc. $COIN Purchased by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 907 shares of the cryptocurrency exchange’s stock, valued at approximately $318,000.

Several other institutional investors have also made changes to their positions in COIN. Cadent Capital Advisors LLC lifted its position in shares of Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after acquiring an additional 30 shares in the last quarter. Ameriflex Group Inc. raised its stake in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after purchasing an additional 30 shares during the period. Pettinga Financial Advisors LLC lifted its holdings in shares of Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Coinbase Global by 12.1% in the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock worth $123,000 after buying an additional 38 shares during the period. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Coinbase Global by 13.7% during the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock valued at $113,000 after buying an additional 39 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 1.7%

Coinbase Global stock opened at $257.29 on Thursday. 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, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The firm’s fifty day simple moving average is $330.40 and its 200-day simple moving average is $315.72. The company has a market capitalization of $69.38 billion, a P/E ratio of 22.26 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping 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 firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The business’s quarterly revenue was up 55.1% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Emilie Choi sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total value of $31,088,000.00. Following the transaction, the chief operating officer directly owned 187,802 shares of the company’s stock, valued at approximately $58,383,885.76. This trade represents a 34.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 40,000 shares of the business’s stock in a transaction that occurred on 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 quarter, insiders have sold 762,830 shares of company stock valued at $237,203,979. Insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. JPMorgan Chase & Co. cut their target price on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. President Capital lifted their target price on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, HC Wainwright upgraded Coinbase Global from a “sell” rating to a “buy” rating and increased their price objective for the stock from $300.00 to $425.00 in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $399.94.

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.