Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 60.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,338 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,384 shares during the period. Transcend Capital Advisors LLC’s holdings in Coinbase Global were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $231,000. Charles Schwab Investment Management Inc. increased its stake in shares of Coinbase Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,846 shares of the cryptocurrency exchange’s stock worth $21,665,000 after purchasing an additional 3,880 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Coinbase Global by 10.0% during the fourth quarter. Geode Capital Management LLC now owns 390,681 shares of the cryptocurrency exchange’s stock worth $98,420,000 after purchasing an additional 35,590 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $1,671,000. Finally, Hilltop Holdings Inc. increased its stake in shares of Coinbase Global by 2.8% during the fourth quarter. Hilltop Holdings Inc. now owns 2,540 shares of the cryptocurrency exchange’s stock worth $641,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 49.31% of the company’s stock.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 4,512 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $97.24, for a total value of $438,746.88. Following the transaction, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at approximately $2,666,029.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Coinbase Global news, Director Tobias Lutke acquired 4,482 shares of the stock in a transaction on Tuesday, September 13th. The shares were bought at an average cost of $75.39 per share, with a total value of $337,897.98. Following the transaction, the director now owns 54,583 shares of the company’s stock, valued at approximately $4,115,012.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 4,512 shares of the firm’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 in the company, valued at $2,666,029.08. The disclosure for this sale can be found here. Insiders have purchased 29,083 shares of company stock valued at $2,201,152 in the last ninety days. Insiders own 36.10% of the company’s stock.

Coinbase Global Trading Down 0.4 %

Shares of NASDAQ:COIN opened at $67.64 on Thursday. Coinbase Global, Inc. has a 52 week low of $40.83 and a 52 week high of $368.90. The company’s 50 day moving average is $73.10 and its two-hundred day moving average is $96.49. 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 company has a market cap of $14.85 billion, a PE ratio of -33.49 and a beta of 3.31.

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

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Redburn Partners cut shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Thursday, June 23rd. Atlantic Securities upped their price objective on shares of Coinbase Global from $54.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 6th. JMP Securities dropped their price objective on shares of 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. Cowen initiated coverage on shares of Coinbase Global in a research note on Thursday, May 26th. They set an “outperform” rating for the company. Finally, Citigroup dropped their price objective on shares of Coinbase Global from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $164.14.

Coinbase Global Company 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

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

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