14,800 Shares in Coinbase Global, Inc. $COIN Acquired by Lbp Am Sa

Lbp Am Sa purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COINFree Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,800 shares of the cryptocurrency exchange’s stock, valued at approximately $4,995,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Coinbase Global by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after purchasing an additional 4,914,407 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 valued at $1,940,805,000 after acquiring an additional 1,755,146 shares during the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global during the second quarter worth about $1,044,354,000. Charles Schwab Investment Management Inc. grew its stake in shares of Coinbase Global by 53.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,455,916 shares of the cryptocurrency exchange’s stock worth $510,284,000 after purchasing an additional 504,068 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Coinbase Global by 14.6% during the 2nd quarter. Legal & General Group Plc now owns 1,136,620 shares of the cryptocurrency exchange’s stock valued at $398,374,000 after purchasing an additional 145,047 shares during the period. 68.84% of the stock is currently owned by institutional investors.

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Insider Activity at Coinbase Global

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

Analyst Ratings Changes

Several research firms have recently issued reports on COIN. Jefferies Financial Group reduced their target price on Coinbase Global from $367.00 to $268.00 and set a “hold” rating on the stock in a research note on Monday, January 12th. Cantor Fitzgerald reduced their price objective on shares of Coinbase Global from $459.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, December 18th. Mizuho set a $280.00 price objective on shares of Coinbase Global in a report on Tuesday, December 16th. Bank of America raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 target price on the stock in a research note on Thursday, January 8th. Finally, Barclays decreased their price target on shares of Coinbase Global from $291.00 to $258.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $361.58.

View Our Latest Research Report on Coinbase Global

Coinbase Global Price Performance

Shares of COIN opened at $213.48 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm’s 50-day simple moving average is $248.62 and its two-hundred day simple moving average is $305.24. The stock has a market cap of $57.56 billion, a PE ratio of 18.47 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 (NASDAQ:COINGet Free Report) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.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 firm posted $0.28 EPS. The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Coinbase Global Company Profile

(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.

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

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