Prudential PLC Has $2.35 Million Holdings in Coinbase Global, Inc. $COIN

Prudential PLC lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 152.4% during the 2nd quarter, Holdings Channel reports. The firm owned 6,710 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,052 shares during the period. Prudential PLC’s holdings in Coinbase Global were worth $2,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in COIN. Allianz Asset Management GmbH increased its stake in Coinbase Global by 461.3% during the 1st quarter. Allianz Asset Management GmbH now owns 70,925 shares of the cryptocurrency exchange’s stock worth $12,215,000 after acquiring an additional 58,290 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Coinbase Global by 14.9% during the 1st quarter. Wedbush Securities Inc. now owns 3,486 shares of the cryptocurrency exchange’s stock worth $600,000 after purchasing an additional 452 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Coinbase Global by 23.6% during the 1st quarter. AE Wealth Management LLC now owns 1,281 shares of the cryptocurrency exchange’s stock worth $221,000 after purchasing an additional 245 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Coinbase Global in the first quarter worth $427,000. Finally, Avantax Advisory Services Inc. increased its position in shares of Coinbase Global by 110.2% in the first quarter. Avantax Advisory Services Inc. now owns 7,211 shares of the cryptocurrency exchange’s stock worth $1,242,000 after purchasing an additional 3,781 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COIN has been the subject of several recent analyst reports. Cantor Fitzgerald cut their price objective on shares of Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Keefe, Bruyette & Woods decreased their target price on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. BTIG Research boosted their price objective on shares of Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Barclays cut their target price on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $398.08.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 755,171 shares of company stock worth $234,838,249 in the last quarter. 17.65% of the stock is owned by insiders.

Coinbase Global Trading Up 0.9%

NASDAQ COIN opened at $240.41 on Friday. The company has a market cap of $64.83 billion, a price-to-earnings ratio of 20.80 and a beta of 3.67. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve 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 fifty day moving average is $327.03 and its 200 day moving average is $316.29.

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