WIM INVESTMENT MANAGEMENT Ltd Makes New Investment in Coinbase Global, Inc. $COIN

WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,900 shares of the cryptocurrency exchange’s stock, valued at approximately $2,068,000. Coinbase Global comprises approximately 0.7% of WIM INVESTMENT MANAGEMENT Ltd’s investment portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of 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 period. Groupama Asset Managment increased its position in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi raised its stake in Coinbase Global by 44.1% during 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 period. Finally, Northern Trust Corp increased 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 worth $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 other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $177,519.74. This trade represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owned 82,328 shares of the company’s stock, valued at approximately $28,475,608.64. This represents a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 205,657 shares of company stock valued at $67,989,576 in the last quarter. 17.65% of the stock is currently owned by insiders.

Coinbase Global Trading Up 4.7%

Shares of Coinbase Global stock opened at $309.14 on Friday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. 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 business’s 50 day moving average is $333.93 and its 200-day moving average is $310.35. The stock has a market cap of $79.43 billion, a P/E ratio of 26.74 and a beta of 3.67.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. President Capital boosted their price objective on Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Oppenheimer restated an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Cantor Fitzgerald lowered their target price on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $397.36.

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.