Czech National Bank Raises Holdings in Coinbase Global, Inc. $COIN

Czech National Bank increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.0% during the 3rd quarter, Holdings Channel reports. The fund owned 57,439 shares of the cryptocurrency exchange’s stock after purchasing an additional 5,707 shares during the quarter. Czech National Bank’s holdings in Coinbase Global were worth $19,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Coinbase Global by 672.2% in the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock valued at $408,000 after buying an additional 1,015 shares in the last quarter. SP Asset Management LLC purchased a new position in shares of Coinbase Global in the 2nd quarter valued at about $360,000. Kera Capital Partners Inc. increased its stake in shares of Coinbase Global by 3.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after purchasing an additional 1,085 shares in the last quarter. Parallel Advisors LLC raised its holdings in Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares during the period. Finally, New York Life Investment Management LLC boosted its position in Coinbase Global by 890.8% during the second quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock worth $11,033,000 after purchasing an additional 28,302 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the transaction, the chief operating officer directly owned 187,802 shares in the company, valued at $58,383,885.76. The trade was a 34.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $271.87, for a total value of $10,874,800.00. The SEC filing for this sale provides additional information. Insiders have sold 791,804 shares of company stock valued at $240,485,568 in the last ninety days. 16.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Erste Group Bank cut Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. UBS Group set a $340.00 price target on shares of Coinbase Global in a report on Wednesday. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. Rosenblatt Securities lifted their target price on shares of Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. Finally, The Goldman Sachs Group set a $294.00 price target on shares of Coinbase Global and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $383.54.

Coinbase Global Price Performance

Coinbase Global stock opened at $239.20 on Friday. The company has a fifty day simple moving average of $295.99 and a 200-day simple moving average of $318.05. The firm has a market capitalization of $64.50 billion, a price-to-earnings ratio of 20.69 and a beta of 3.69. 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.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business posted $0.28 earnings per share. Coinbase Global’s quarterly revenue was up 55.1% on a year-over-year basis. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 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.