35,860 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,860 shares of the cryptocurrency exchange’s stock, valued at approximately $7,969,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Creekmur Asset Management LLC bought a new position in Coinbase Global during the fourth quarter worth about $27,000. Crewe Advisors LLC increased its position in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global during the second quarter worth $29,000. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 0.1 %

Shares of Coinbase Global stock opened at $163.05 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day simple moving average of $204.20 and a two-hundred day simple moving average of $223.40. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48. The company has a market capitalization of $40.04 billion, a price-to-earnings ratio of 32.54 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) EPS. Research analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $206.00 to $169.00 in a report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Bank of America decreased their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $246.06.

Insiders Place Their Bets

In other news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $380,530.20. The disclosure for this sale can be found here. Insiders sold 110,062 shares of company stock worth $22,872,039 over the last three months. Insiders own 23.43% of the company’s stock.

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.