DJE Kapital AG Purchases 92,126 Shares of Coinbase Global, Inc. $COIN

DJE Kapital AG boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 171.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 145,884 shares of the cryptocurrency exchange’s stock after buying an additional 92,126 shares during the period. Coinbase Global comprises about 1.3% of DJE Kapital AG’s portfolio, making the stock its 29th biggest holding. DJE Kapital AG’s holdings in Coinbase Global were worth $51,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in COIN. Envestnet Asset Management Inc. increased its position in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after acquiring an additional 9,952 shares during the period. Bessemer Group Inc. grew its position in shares of Coinbase Global by 672.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after purchasing an additional 1,015 shares in the last quarter. SP Asset Management LLC bought a new position in shares of Coinbase Global during the second quarter worth approximately $360,000. Kera Capital Partners Inc. raised its position in shares of Coinbase Global by 3.0% in the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after buying an additional 1,085 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after buying an additional 5,402 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.7%

Shares of Coinbase Global stock opened at $309.14 on Friday. The firm’s 50 day moving average is $333.93 and its 200 day moving average is $311.19. The firm has a market capitalization of $79.43 billion, a PE ratio of 26.74 and a beta of 3.67. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year 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.

Coinbase Global (NASDAQ:COIN) last issued its 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 firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company’s quarterly revenue was up 55.1% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,400 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer owned 84,820 shares in the company, valued at $29,212,856.20. The trade was a 4.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $337.49, for a total value of $8,437,250.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $177,519.74. The trade was a 97.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 205,657 shares of company stock valued at $67,989,576 in the last 90 days. 17.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Monness Crespi & Hardt downgraded Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Argus began coverage on shares of Coinbase Global in a research report on Monday, July 14th. They set a “buy” rating and a $400.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and issued a $384.00 target price on shares of Coinbase Global in a report on Wednesday, October 29th. Finally, Mizuho upped their price target on shares of Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $397.36.

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.