Fulton Bank N.A. Increases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Fulton Bank N.A. increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 136.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,761 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,326 shares during the period. Fulton Bank N.A.’s holdings in Coinbase Global were worth $271,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in COIN. IDG Technology Venture Investment IV LLC purchased a new stake in Coinbase Global in the 4th quarter worth about $431,538,000. Sozo Ventures GP II L.P. purchased a new stake in Coinbase Global in the 4th quarter worth about $273,832,000. Nikko Asset Management Americas Inc. increased its holdings in Coinbase Global by 13.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,904,434 shares of the cryptocurrency exchange’s stock worth $927,428,000 after acquiring an additional 583,576 shares during the last quarter. State Street Corp increased its holdings in Coinbase Global by 336.1% in the 4th quarter. State Street Corp now owns 462,870 shares of the cryptocurrency exchange’s stock worth $116,815,000 after acquiring an additional 356,734 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Coinbase Global by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 6,025,188 shares of the cryptocurrency exchange’s stock worth $1,143,942,000 after acquiring an additional 260,538 shares during the last quarter. Hedge funds and other institutional investors own 49.31% of the company’s stock.

Coinbase Global Trading Down 4.2 %

Coinbase Global stock opened at $74.00 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $72.21 and its two-hundred day simple moving average is $97.57. Coinbase Global, Inc. has a 12 month low of $40.83 and a 12 month high of $368.90. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of -36.63 and a beta of 3.31.

Coinbase Global (NASDAQ:COINGet Rating) last released its earnings results on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) EPS for the quarter, missing the consensus estimate of ($3.04) by ($1.91). The company had revenue of $808.33 million during the quarter, compared to the consensus estimate of $877.32 million. Coinbase Global had a negative return on equity of 4.61% and a negative net margin of 4.79%. As a group, equities analysts predict that Coinbase Global, Inc. will post -10.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on COIN shares. JMP Securities cut their target price on Coinbase Global from $205.00 to $195.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 10th. Barclays cut their target price on Coinbase Global from $80.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 7th. Atlantic Securities lifted their price target on Coinbase Global from $54.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 6th. Cowen began coverage on Coinbase Global in a research report on Thursday, May 26th. They set an “outperform” rating for the company. Finally, BTIG Research dropped their price target on Coinbase Global to $220.00 in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.14.

Insider Activity

In other news, CAO Jennifer N. Jones sold 4,512 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $97.24, for a total transaction of $438,746.88. Following the transaction, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at $2,666,029.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Jennifer N. Jones sold 4,512 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $97.24, for a total transaction of $438,746.88. Following the completion of the sale, the chief accounting officer now owns 27,417 shares in the company, valued at $2,666,029.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tobias Lutke acquired 4,023 shares of Coinbase Global stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average price of $90.55 per share, with a total value of $364,282.65. Following the transaction, the director now owns 33,453 shares of the company’s stock, valued at approximately $3,029,169.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 29,083 shares of company stock valued at $2,201,152 over the last ninety days. 36.10% of the stock is currently owned by corporate insiders.

Coinbase Global Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

See Also

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINGet Rating).

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

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