Coinbase Global, Inc. $COIN Shares Purchased by Investment House LLC

Investment House LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 121.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,716 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,584 shares during the quarter. Investment House LLC’s holdings in Coinbase Global were worth $1,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its holdings in Coinbase Global by 24.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares in the last quarter. Empowered Funds LLC increased its position in shares of Coinbase Global by 25.8% in the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after purchasing an additional 1,761 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after purchasing an additional 467 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Coinbase Global during the second quarter worth about $285,000. Finally, Fifth Third Bancorp grew its stake in Coinbase Global by 796.5% in the second quarter. Fifth Third Bancorp now owns 5,451 shares of the cryptocurrency exchange’s stock worth $1,911,000 after purchasing an additional 4,843 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $248.96, for a total transaction of $9,958,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 1,375 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $250.27, for a total value of $344,121.25. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 820,587 shares of company stock valued at $240,717,580. Insiders own 16.56% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $216.95 on Friday. The firm has a fifty day moving average of $249.62 and a 200-day moving average of $306.95. The company has a market cap of $58.50 billion, a price-to-earnings ratio of 18.77 and a beta of 3.70. 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, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on COIN. Rosenblatt Securities increased their target price on Coinbase Global from $450.00 to $470.00 in a report on Friday, October 31st. Monness Crespi & Hardt upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Monday, November 10th. Erste Group Bank downgraded shares of Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Cantor Fitzgerald dropped their target price on shares of Coinbase Global from $459.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, December 18th. Finally, Rothschild & Co Redburn reduced their price target on shares of Coinbase Global from $404.00 to $403.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $361.58.

Check Out Our Latest Research Report on COIN

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About Coinbase Global

(Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

See Also

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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