Ensign Peak Advisors Inc Increases Position in Coinbase Global, Inc. $COIN

Ensign Peak Advisors Inc increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 677.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,291 shares of the cryptocurrency exchange’s stock after buying an additional 110,046 shares during the period. Ensign Peak Advisors Inc’s holdings in Coinbase Global were worth $44,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in COIN. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after acquiring an additional 4,914,407 shares in the last quarter. Geode Capital Management LLC raised its holdings in Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock worth $1,940,805,000 after purchasing an additional 1,755,146 shares during the last quarter. ARK Investment Management LLC boosted its position in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after purchasing an additional 34,462 shares in the last quarter. Groupama Asset Managment boosted 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 purchasing an additional 1,500,000 shares in the last quarter. Finally, Amundi grew its holdings in 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 last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 7.4%

Shares of NASDAQ:COIN opened at $238.16 on Friday. The stock has a 50-day simple moving average of $328.69 and a 200-day simple moving average of $315.18. The stock has a market capitalization of $64.22 billion, a P/E ratio of 20.60 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 company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Coinbase Global’s revenue was up 55.1% compared to the same quarter last year. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 55,688 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $321.81, for a total value of $17,920,955.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction dated 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 owned 187,802 shares in the company, valued at approximately $58,383,885.76. This represents a 34.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 755,171 shares of company stock valued at $234,838,249 in the last quarter. Company insiders own 17.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COIN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Jefferies Financial Group restated a “hold” rating and set a $384.00 target price on shares of Coinbase Global in a research report on Wednesday, October 29th. Benchmark reaffirmed a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Barclays dropped their price objective on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Finally, Compass Point reduced their target price on Coinbase Global from $277.00 to $266.00 in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

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.