Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,467 shares of the cryptocurrency exchange’s stock after buying an additional 4,300 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Coinbase Global were worth $14,515,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. IHT Wealth Management LLC increased its stake in Coinbase Global by 36.0% during the third quarter. IHT Wealth Management LLC now owns 9,030 shares of the cryptocurrency exchange’s stock worth $1,569,000 after purchasing an additional 2,392 shares during the period. Investment Management Corp of Ontario increased its stake in Coinbase Global by 53.3% during the third quarter. Investment Management Corp of Ontario now owns 6,331 shares of the cryptocurrency exchange’s stock worth $1,128,000 after purchasing an additional 2,200 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Coinbase Global during the third quarter worth about $450,000. Janus Henderson Group PLC increased its stake in Coinbase Global by 36.8% during the third quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange’s stock worth $2,767,000 after purchasing an additional 4,177 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Coinbase Global during the third quarter worth about $38,535,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $343.62 on Friday. The firm has a market capitalization of $86.03 billion, a P/E ratio of 58.64 and a beta of 3.57. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $242.71 and its two-hundred day moving average is $222.37.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 400 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,220 shares of company stock valued at $80,030,608. 23.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Mizuho boosted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Needham & Company LLC upped their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $265.33.

Coinbase Global Company 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.