Exchange Traded Concepts LLC Has $14.73 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Exchange Traded Concepts LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 25.7% in the third quarter, HoldingsChannel.com reports. The fund owned 82,668 shares of the cryptocurrency exchange’s stock after buying an additional 16,907 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Coinbase Global were worth $14,729,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after buying an additional 486,512 shares during the last quarter. American Century Companies Inc. grew its position in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Finally, APEIRON CAPITAL Ltd bought a new position in Coinbase Global during the 1st quarter worth $108,434,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were 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 in the company, valued at approximately $41,901,248.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the sale, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the sale, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,037 shares of company stock valued at $15,512,370 in the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 7.4 %

NASDAQ COIN opened at $176.38 on Friday. The firm has a market cap of $43.83 billion, a PE ratio of 31.67 and a beta of 3.35. Coinbase Global, Inc. has a 1-year low of $70.42 and a 1-year high of $283.48. The stock has a 50-day moving average of $178.63 and a 200-day moving average of $213.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm posted ($0.42) EPS. The business’s revenue for the quarter was up 104.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Compass Point decreased their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America decreased their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $246.44.

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.