Coinbase Global, Inc. $COIN Shares Purchased by Cim Investment Management Inc.

Cim Investment Management Inc. boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 99.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,998 shares of the cryptocurrency exchange’s stock after acquiring an additional 4,491 shares during the quarter. Coinbase Global accounts for approximately 0.6% of Cim Investment Management Inc.’s investment portfolio, making the stock its 27th biggest position. Cim Investment Management Inc.’s holdings in Coinbase Global were worth $3,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Evelyn Partners Investment Management Europe Ltd grew its holdings in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global in the 2nd quarter valued at approximately $30,000. City State Bank purchased a new position in Coinbase Global in the 2nd quarter valued at approximately $33,000. Financial Gravity Companies Inc. purchased a new stake in shares of Coinbase Global during the second quarter worth $34,000. Finally, Fourth Dimension Wealth LLC increased its position in shares of Coinbase Global by 300.0% during the second quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock worth $35,000 after acquiring an additional 75 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $267.46 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The firm’s 50 day moving average is $306.99 and its two-hundred day moving average is $318.61. The firm has a market capitalization of $72.12 billion, a P/E ratio of 23.14 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 1,787 shares of Coinbase Global stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $244.49, for a total transaction of $436,903.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $280.27, for a total value of $770,742.50. The disclosure for this sale is available in the SEC filing. Insiders sold 815,846 shares of company stock valued at $248,642,353 over the last quarter. 16.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on COIN shares. UBS Group set a $404.00 target price on Coinbase Global in a report on Friday, October 24th. Argus reiterated a “hold” rating on shares of Coinbase Global in a research note on Tuesday, November 25th. President Capital lifted their price target on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. B. Riley boosted their price target on shares of Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $384.00 price objective on shares of Coinbase Global in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $394.67.

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.