Lbp Am Sa Makes New Investment in Coinbase Global, Inc. $COIN

Lbp Am Sa purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 14,800 shares of the cryptocurrency exchange’s stock, valued at approximately $4,995,000.

Several other large investors also recently modified their holdings of COIN. Bessemer Group Inc. grew its holdings in Coinbase Global by 672.2% during the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after purchasing an additional 1,015 shares during the period. SP Asset Management LLC purchased a new position in Coinbase Global during the second quarter valued at approximately $360,000. New York Life Investment Management LLC boosted its position in shares of Coinbase Global by 890.8% in the second quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock worth $11,033,000 after purchasing an additional 28,302 shares during the period. Lauterbach Financial Advisors LLC purchased a new stake in shares of Coinbase Global in the second quarter worth $390,000. Finally, Atria Investments Inc bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $1,137,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $250.27, for a total transaction of $344,121.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $248.96, for a total value of $9,958,400.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 820,587 shares of company stock worth $240,717,580. 16.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. Jefferies Financial Group cut their price target on Coinbase Global from $367.00 to $268.00 and set a “hold” rating for the company in a research note on Monday, January 12th. Bank of America upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 target price for the company in a research report on Thursday, January 8th. Redburn Partners set a $417.00 price target on Coinbase Global in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Coinbase Global in a report on Wednesday, December 17th. They set a “buy” rating and a $340.00 price objective for the company. Finally, President Capital boosted their target price on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $361.58.

Get Our Latest Research Report on COIN

Coinbase Global Stock Down 1.6%

NASDAQ COIN opened at $213.48 on Tuesday. The stock has a 50 day moving average price of $248.62 and a 200-day moving average price of $305.24. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market capitalization of $57.56 billion, a P/E ratio of 18.47 and a beta of 3.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (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 company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Coinbase Global’s revenue was up 55.1% on a year-over-year basis. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global News Roundup

Here are the key news stories impacting Coinbase Global this week:

About Coinbase Global

(Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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