Eagle Asset Management Inc. Boosts Position in Coinbase Global, Inc. (NASDAQ:COIN)

Eagle Asset Management Inc. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 46.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 375,600 shares of the cryptocurrency exchange’s stock after acquiring an additional 119,259 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.15% of Coinbase Global worth $66,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares during the last quarter. Cowen AND Company LLC increased its stake in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after acquiring an additional 22,071 shares during the last quarter. Renaissance Technologies LLC raised its position in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after purchasing an additional 52,856 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Down 7.6 %

Shares of NASDAQ COIN opened at $295.79 on Friday. The business has a 50-day moving average of $211.36 and a two-hundred day moving average of $214.61. The company has a market capitalization of $74.05 billion, a price-to-earnings ratio of 50.48 and a beta of 3.34. Coinbase Global, Inc. has a 1 year low of $103.36 and a 1 year high of $341.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Mizuho raised their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Hold” and an average price target of $251.00.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The trade was a 18.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the sale, the chief operating officer now owns 197,101 shares of the company’s stock, valued at approximately $37,240,262.94. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,091 shares of company stock worth $50,033,426 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

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.