Central Asset Investments & Management Holdings HK Ltd Buys Shares of 1,400 Coinbase Global, Inc. (NASDAQ:COIN)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,400 shares of the cryptocurrency exchange’s stock, valued at approximately $311,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Norges Bank bought a new stake in shares of Coinbase Global during the fourth quarter worth $202,936,000. Renaissance Technologies LLC increased its position in shares of Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. HC Wainwright dropped their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $246.06.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the sale, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The disclosure for this sale can be found here. Insiders sold a total of 111,562 shares of company stock valued at $23,115,399 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 0.6 %

Coinbase Global stock opened at $162.45 on Wednesday. The stock has a 50-day simple moving average of $201.87 and a 200 day simple moving average of $222.80. The stock has a market capitalization of $39.89 billion, a P/E ratio of 32.43 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business’s quarterly revenue was up 104.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. Analysts expect that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

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.