CloudAlpha Capital Management Limited Hong Kong Acquires New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 167,010 shares of the cryptocurrency exchange’s stock, valued at approximately $29,756,000. Coinbase Global accounts for 1.8% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 11th biggest position.

Other institutional investors also recently bought and sold shares of the company. APEIRON CAPITAL Ltd acquired a new stake in Coinbase Global in the 1st quarter valued at about $108,434,000. Empowered Funds LLC lifted its stake in Coinbase Global by 40.8% in the first quarter. Empowered Funds LLC now owns 4,989 shares of the cryptocurrency exchange’s stock worth $1,323,000 after acquiring an additional 1,445 shares during the last quarter. Sei Investments Co. grew its holdings in Coinbase Global by 41.7% during the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock worth $2,629,000 after acquiring an additional 2,920 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Coinbase Global by 28.9% in the 1st quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock valued at $6,138,000 after purchasing an additional 5,189 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Coinbase Global in the 1st quarter valued at approximately $394,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN stock opened at $284.72 on Thursday. The stock’s 50-day moving average price is $193.17 and its 200 day moving average price is $210.75. 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 stock has a market capitalization of $71.28 billion, a PE ratio of 48.59 and a beta of 3.34. Coinbase Global, Inc. has a 52-week low of $89.79 and a 52-week high of $334.86.

Coinbase Global (NASDAQ:COIN) last announced its earnings results 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COIN. Needham & Company LLC boosted their target price on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Monness Crespi & Hardt started coverage on Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $246.28.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred 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 completion of the sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,822 shares of company stock valued at $30,921,194. 23.43% of the stock is owned by company insiders.

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.