Caprock Group LLC Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Caprock Group LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 43.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,513 shares of the cryptocurrency exchange’s stock after acquiring an additional 4,965 shares during the quarter. Caprock Group LLC’s holdings in Coinbase Global were worth $2,942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the period. American Century Companies Inc. lifted its stake in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares during the last quarter. APEIRON CAPITAL Ltd purchased a new position in Coinbase Global during the 1st quarter valued at $108,434,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the 3rd quarter valued at $29,756,000. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COIN. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Barclays lifted their target price on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $251.00.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This represents a 97.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,822 shares of company stock valued at $30,921,194. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 0.3 %

Coinbase Global stock opened at $324.57 on Wednesday. Coinbase Global, Inc. has a 1-year low of $100.01 and a 1-year high of $334.86. The business has a fifty day moving average price of $205.45 and a 200-day moving average price of $213.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $81.26 billion, a price-to-earnings ratio of 55.39 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly 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 business 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 posted ($0.01) EPS. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal 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.