Keybank National Association OH Makes New Investment in Coinbase Global, Inc. $COIN

Keybank National Association OH acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 2,279 shares of the cryptocurrency exchange’s stock, valued at approximately $799,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after buying an additional 9,952 shares in the last quarter. Bessemer Group Inc. increased its position in Coinbase Global by 672.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after buying an additional 1,015 shares in the last quarter. Kera Capital Partners Inc. increased its position in Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after buying an additional 1,085 shares in the last quarter. Parallel Advisors LLC increased its position in Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after buying an additional 5,402 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in Coinbase Global by 890.8% during the 2nd quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock valued at $11,033,000 after buying an additional 28,302 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on COIN shares. Erste Group Bank assumed coverage on Coinbase Global in a research report on Wednesday, July 23rd. They set a “buy” rating for the company. Monness Crespi & Hardt lowered Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Barclays reduced their target price on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday. Citigroup lifted their target price on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, BTIG Research lifted their target price on Coinbase Global from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.91.

Coinbase Global Stock Performance

COIN stock opened at $330.42 on Tuesday. The company has a market cap of $84.90 billion, a P/E ratio of 28.58 and a beta of 3.67. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock’s fifty day moving average price is $333.92 and its 200-day moving average price is $308.52.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global 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 transaction, the chief executive officer owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 180,657 shares of company stock valued at $59,552,326. Corporate insiders own 23.43% of the company’s stock.

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.