Strs Ohio Has $43.04 Million Stake in Coinbase Global, Inc. $COIN

Strs Ohio lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 56.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,800 shares of the cryptocurrency exchange’s stock after purchasing an additional 44,216 shares during the period. Strs Ohio’s holdings in Coinbase Global were worth $43,040,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Bessemer Group Inc. boosted its position in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global during the first quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the second quarter valued at $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global in the first quarter valued at about $31,000. Finally, SouthState Corp increased its position in Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares during the period. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on COIN shares. Citigroup raised their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Rothschild Redb raised shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised Coinbase Global from a “neutral” rating to an “overweight” rating and increased their price target for the company from $342.00 to $404.00 in a research note on Friday, October 24th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $384.00 price target on shares of Coinbase Global in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $390.61.

Coinbase Global Stock Performance

COIN stock opened at $328.51 on Friday. The business’s 50-day moving average price is $332.96 and its two-hundred day moving average price is $304.41. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a market cap of $84.41 billion, a PE ratio of 31.77 and a beta of 3.68. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $0.28 earnings per share. Coinbase Global’s revenue was up 55.1% compared to the same quarter last year. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. This represents a 15.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 205,657 shares of company stock valued at $67,479,576. 17.65% of the stock is currently owned by corporate 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.