2,784 Shares in Coinbase Global, Inc. $COIN Purchased by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,784 shares of the cryptocurrency exchange’s stock, valued at approximately $976,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Evelyn Partners Investment Management Europe Ltd lifted its holdings in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after acquiring an additional 36 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the 2nd quarter valued at $30,000. City State Bank bought a new stake in shares of Coinbase Global during the 2nd quarter worth $33,000. Financial Gravity Companies Inc. bought a new stake in shares of Coinbase Global during the 2nd quarter worth $34,000. Finally, Fourth Dimension Wealth LLC boosted its holdings in shares of Coinbase Global by 300.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock worth $35,000 after buying an additional 75 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Coinbase Global stock opened at $274.20 on Tuesday. The firm has a market capitalization of $73.94 billion, a P/E ratio of 23.72 and a beta of 3.69. Coinbase Global, Inc. has a one year low of $142.58 and a one 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 business has a fifty day moving average price of $313.93 and a 200-day moving average price of $318.77.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 55.1% on a year-over-year basis. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 4,125 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $274.06, for a total transaction of $1,130,497.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,787 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $244.49, for a total transaction of $436,903.63. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 733,096 shares of company stock valued at $226,624,810. Company insiders own 16.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on COIN. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $314.00 to $294.00 and set a “neutral” rating for the company in a report on Friday. B. Riley raised their price target on shares of Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Rothschild & Co Redburn lowered their price target on shares of Coinbase Global from $417.00 to $404.00 and set a “buy” rating on the stock in a report on Friday, November 28th. JPMorgan Chase & Co. reduced their price objective on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Benchmark reissued a “buy” rating on shares of Coinbase Global in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $396.94.

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.