US Bancorp DE Buys 3,361 Shares of Coinbase Global, Inc. $COIN

US Bancorp DE grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 12,641 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,361 shares during the period. US Bancorp DE’s holdings in Coinbase Global were worth $4,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COIN. Capital Advisors Wealth Management LLC grew its holdings in Coinbase Global by 2.0% in the third quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock worth $523,000 after purchasing an additional 30 shares during the period. Elevation Wealth Partners LLC boosted its holdings in shares of Coinbase Global by 37.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. StoneX Group Inc. boosted its holdings in Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock worth $690,000 after purchasing an additional 34 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Coinbase Global by 3.4% in the third quarter. Forvis Mazars Wealth Advisors LLC now owns 1,040 shares of the cryptocurrency exchange’s stock worth $351,000 after acquiring an additional 34 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Coinbase Global by 17.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 241 shares of the cryptocurrency exchange’s stock valued at $81,000 after purchasing an additional 35 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Coinbase Global stock opened at $185.24 on Tuesday. The company’s 50-day moving average price is $205.24 and its 200-day moving average price is $271.94. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. The company has a market cap of $48.92 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.52 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.17). Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $4.68 EPS. The company’s revenue was down 21.6% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $250.00 target price on Coinbase Global in a report on Friday, February 13th. B. Riley Financial upped their price target on Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Erste Group Bank cut Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Oppenheimer lowered their target price on shares of Coinbase Global from $381.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Finally, Rothschild & Co Redburn dropped their price target on Coinbase Global from $403.00 to $288.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Nineteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.67.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 4,125 shares of Coinbase Global stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $274.06, for a total transaction of $1,130,497.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $273.86, for a total transaction of $10,954,400.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 513,775 shares of company stock worth $95,046,092. 16.56% of the stock is currently owned by company insiders.

Coinbase Global Profile

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.