Holocene Advisors LP Purchases New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Holocene Advisors LP acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 216,283 shares of the cryptocurrency exchange’s stock, valued at approximately $38,535,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banco Santander S.A. raised its stake in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Global Retirement Partners LLC raised its position in Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the 3rd quarter worth $29,756,000. Lindbrook Capital LLC boosted its holdings in shares of Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Coinbase Global in the second quarter valued at about $2,908,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $161,639.80. This represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,644 shares of company stock worth $59,887,556. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Oppenheimer lifted their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Mizuho increased their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average target price of $265.33.

Coinbase Global Stock Performance

NASDAQ COIN opened at $302.40 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75. The business has a fifty day moving average of $228.17 and a 200-day moving average of $218.63. The stock has a market cap of $75.71 billion, a price-to-earnings ratio of 51.60 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Coinbase Global 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.