Public Sector Pension Investment Board Raises Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Public Sector Pension Investment Board increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% in the third quarter, Holdings Channel reports. The firm owned 25,678 shares of the cryptocurrency exchange’s stock after acquiring an additional 500 shares during the period. Public Sector Pension Investment Board’s holdings in Coinbase Global were worth $4,575,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Banco Santander S.A. boosted its position in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the period. Global Retirement Partners LLC boosted its holdings in Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global in the third quarter valued at approximately $29,756,000. Lindbrook Capital LLC raised its stake in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Coinbase Global during the second quarter worth $2,908,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on COIN shares. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Compass Point lowered their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Mizuho raised their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, B. Riley initiated coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $255.22.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This trade represents a 61.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 237,719 shares of company stock worth $65,309,711 in the last ninety days. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Down 4.8 %

NASDAQ:COIN opened at $296.20 on Monday. The firm has a market capitalization of $74.15 billion, a PE ratio of 50.55 and a beta of 3.34. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $341.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $228.17 and a 200-day moving average of $218.64.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. Analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

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.