Volterra Technologies LP Buys New Shares in Coinbase Global, Inc. $COIN

Volterra Technologies LP purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, Holdings Channel reports. The firm purchased 3,690 shares of the cryptocurrency exchange’s stock, valued at approximately $1,293,000. Coinbase Global accounts for approximately 0.2% of Volterra Technologies LP’s investment portfolio, making the stock its 19th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Coinbase Global by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after buying an additional 4,914,407 shares during the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at $1,044,354,000. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after purchasing an additional 1,755,146 shares during the last quarter. Groupama Asset Managment raised its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coinbase Global by 53.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,455,916 shares of the cryptocurrency exchange’s stock worth $510,284,000 after purchasing an additional 504,068 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen cut Coinbase Global from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $314.00 to $294.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Mizuho lifted their target price on shares of Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Erste Group Bank cut shares of Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.94.

Coinbase Global Stock Down 0.8%

Shares of NASDAQ COIN opened at $275.09 on Thursday. The firm has a fifty day simple moving average of $311.31 and a two-hundred day simple moving average of $318.57. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $74.18 billion, a PE ratio of 23.80 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last released its 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 return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 976 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $260.00, for a total value of $253,760.00. Following the sale, the insider owned 74,835 shares in the company, valued at approximately $19,457,100. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $280.27, for a total transaction of $770,742.50. The SEC filing for this sale provides additional information. Insiders sold a total of 815,846 shares of company stock worth $248,642,353 in the last ninety days. 16.56% of the stock is currently owned by company insiders.

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.