1,811 Shares in Coinbase Global, Inc. $COIN Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,811 shares of the cryptocurrency exchange’s stock, valued at approximately $635,000.

A number of other institutional investors and hedge funds have also modified their holdings of COIN. GAMMA Investing LLC raised its stake in shares of Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after buying an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Coinbase Global by 40.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange’s stock worth $2,213,000 after buying an additional 3,695 shares during the last quarter. PFG Investments LLC raised its stake in shares of Coinbase Global by 31.1% during the first quarter. PFG Investments LLC now owns 2,396 shares of the cryptocurrency exchange’s stock worth $413,000 after buying an additional 569 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Coinbase Global during the first quarter worth approximately $2,382,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Coinbase Global during the first quarter worth approximately $1,015,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 4,400 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at $29,212,856.20. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $338.62 on Wednesday. The company has a market capitalization of $87.01 billion, a PE ratio of 32.75 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $329.07 and its 200 day simple moving average is $295.86.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. Compass Point upped their target price on shares of Coinbase Global from $248.00 to $277.00 and gave the company a “sell” rating in a research note on Monday. HC Wainwright reaffirmed a “sell” rating and issued a $300.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Finally, Citigroup upped their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $369.01.

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.