Lecap Asset Management Ltd. Raises Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Lecap Asset Management Ltd. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 219.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,817 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,994 shares during the period. Lecap Asset Management Ltd.’s holdings in Coinbase Global were worth $1,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COIN. Salem Investment Counselors Inc. lifted its position in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after acquiring an additional 114 shares in the last quarter. Intech Investment Management LLC boosted its position in Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after acquiring an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd grew its stake in Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after acquiring an additional 85,573 shares during the period. QRG Capital Management Inc. raised its holdings in Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Edgestream Partners L.P. grew its position in shares of Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after purchasing an additional 7,148 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares in the company, valued at $41,901,248.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $115,883.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,505 shares of company stock worth $29,218,061. 23.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COIN shares. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $248.38.

Coinbase Global Stock Up 4.6 %

Shares of COIN traded up $8.98 during trading on Wednesday, reaching $206.23. The company’s stock had a trading volume of 7,477,154 shares, compared to its average volume of 10,974,338. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a market cap of $50.64 billion, a price-to-earnings ratio of 41.16 and a beta of 3.40. The company has a fifty day moving average of $222.32 and a two-hundred day moving average of $221.01.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.42) EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

About Coinbase Global

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.