Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by EULAV Asset Management

EULAV Asset Management boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 37.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 73,000 shares of the cryptocurrency exchange’s stock after acquiring an additional 20,000 shares during the quarter. EULAV Asset Management’s holdings in Coinbase Global were worth $13,006,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Coinbase Global in the third quarter valued at about $809,000. Prospera Financial Services Inc increased its stake in shares of Coinbase Global by 3.6% during the third quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock worth $353,000 after purchasing an additional 68 shares in the last quarter. Caprock Group LLC increased its stake in shares of Coinbase Global by 43.0% during the third quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange’s stock worth $2,942,000 after purchasing an additional 4,965 shares in the last quarter. Windle Wealth LLC increased its stake in shares of Coinbase Global by 2.4% during the third quarter. Windle Wealth LLC now owns 6,872 shares of the cryptocurrency exchange’s stock worth $1,224,000 after purchasing an additional 158 shares in the last quarter. Finally, CAP Partners LLC increased its stake in shares of Coinbase Global by 12.8% during the third quarter. CAP Partners LLC now owns 6,191 shares of the cryptocurrency exchange’s stock worth $1,103,000 after purchasing an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at approximately $15,000,000. This represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,822 shares of company stock worth $30,921,194 in the last ninety days. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $324.57 on Wednesday. The firm’s 50 day moving average price is $205.45 and its 200-day moving average price is $213.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a one year low of $100.01 and a one year high of $334.86. The firm has a market cap of $81.26 billion, a P/E ratio of 55.39 and a beta of 3.34.

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

Analysts Set New Price Targets

A number of analysts have recently commented on COIN shares. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted 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. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $251.00.

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.