Coinbase Global, Inc. $COIN is Harvest Portfolios Group Inc.’s 10th Largest Position

Harvest Portfolios Group Inc. raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 96.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 217,204 shares of the cryptocurrency exchange’s stock after acquiring an additional 106,630 shares during the period. Coinbase Global accounts for about 1.8% of Harvest Portfolios Group Inc.’s portfolio, making the stock its 10th biggest position. Harvest Portfolios Group Inc.’s holdings in Coinbase Global were worth $76,128,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. ARK Investment Management LLC increased its stake in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after buying an additional 34,462 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi boosted its stake in shares of Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after acquiring an additional 7,675 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,400 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at approximately $29,212,856.20. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. This trade represents a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 205,657 shares of company stock valued at $67,989,576 in the last 90 days. 17.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on COIN shares. Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Monness Crespi & Hardt lowered Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. President Capital boosted their price target on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a report on Wednesday. Redburn Partners set a $417.00 price target on shares of Coinbase Global in a research report on Friday, October 3rd. Finally, Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $397.36.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $295.22 on Friday. The firm has a market capitalization of $75.85 billion, a PE ratio of 25.54 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $333.84 and a two-hundred day moving average price of $309.42. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

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

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.