Clear Creek Financial Management LLC Buys Shares of 4,817 Coinbase Global, Inc. $COIN

Clear Creek Financial Management LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,817 shares of the cryptocurrency exchange’s stock, valued at approximately $1,688,000.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the period. ARK Investment Management LLC grew its holdings in shares of Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after acquiring an additional 34,462 shares in the last quarter. Groupama Asset Managment grew its holdings in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares in the last quarter. Amundi grew its holdings in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after acquiring an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after acquiring an additional 7,675 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 0.1%

Shares of NASDAQ:COIN opened at $387.00 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm has a fifty day moving average price of $324.22 and a 200 day moving average price of $286.10. The stock has a market capitalization of $99.44 billion, a PE ratio of 37.43 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 721,764 shares of company stock valued at $273,595,798. 17.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COIN has been the topic of several research analyst reports. Redburn Partners set a $417.00 price target on shares of Coinbase Global in a report on Friday, October 3rd. Piper Sandler restated a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Benchmark boosted their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Finally, Jefferies Financial Group upped their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.12.

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.