Coinbase Global, Inc. $COIN Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 44.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 374,066 shares of the cryptocurrency exchange’s stock after buying an additional 115,063 shares during the period. Rhumbline Advisers’ holdings in Coinbase Global were worth $131,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Cadent Capital Advisors LLC boosted its position in Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after acquiring an additional 30 shares during the last quarter. Ameriflex Group Inc. raised its holdings in Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after acquiring an additional 30 shares during the last quarter. Pettinga Financial Advisors LLC lifted its stake in Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after purchasing an additional 34 shares in the last quarter. Evelyn Partners Investment Management Europe Ltd lifted its stake in Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of Coinbase Global by 12.1% during the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock worth $123,000 after purchasing an additional 38 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent research reports. Barclays cut their price target on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. Erste Group Bank lowered Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $368.00 to $314.00 and set a “neutral” rating on the stock in a research report on Friday. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $398.08.

Coinbase Global Stock Up 0.9%

Shares of COIN opened at $240.41 on Friday. The company’s 50-day moving average price is $327.03 and its 200 day moving average price is $316.29. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a market cap of $64.83 billion, a P/E ratio of 20.80 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion during 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 business’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 55,688 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $321.81, for a total value of $17,920,955.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The disclosure for this sale is available in the SEC filing. Insiders sold 755,171 shares of company stock worth $234,838,249 in the last ninety days. 17.65% of the stock is owned by company insiders.

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.