Central Asset Investments & Management Holdings HK Ltd Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,400 shares of the cryptocurrency exchange’s stock, valued at approximately $311,000.

Other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in Coinbase Global in the 4th quarter valued at $27,000. Crewe Advisors LLC lifted its position in 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 purchasing an additional 104 shares during the period. Lynx Investment Advisory acquired a new stake in Coinbase Global during the second quarter worth about $29,000. Concord Wealth Partners increased its holdings 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 buying an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $380,530.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the sale, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The disclosure for this sale can be found here. Insiders sold 111,562 shares of company stock worth $23,115,399 over the last ninety days. 23.43% of the stock is owned by insiders.

Coinbase Global Trading Up 0.6 %

Shares of NASDAQ COIN opened at $162.45 on Wednesday. The firm has a 50 day moving average price of $201.87 and a two-hundred day moving average price of $222.80. The stock has a market cap of $39.89 billion, a P/E ratio of 32.43 and a beta of 3.36. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright lowered their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $206.00 to $169.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.06.

Coinbase Global 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.