Coinbase Global, Inc. $COIN Shares Bought by Meitav Investment House Ltd.

Meitav Investment House Ltd. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,874 shares of the cryptocurrency exchange’s stock after buying an additional 74 shares during the period. Meitav Investment House Ltd.’s holdings in Coinbase Global were worth $657,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment grew its holdings in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after purchasing an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the period. Nuveen LLC bought a new position in Coinbase Global during the 1st quarter worth $83,454,000. Amundi increased its position in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares during the period. Finally, Perpetual Ltd bought a new stake in Coinbase Global in the second quarter valued at $62,324,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 1,742 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $322.22, for a total value of $561,307.24. Following the transaction, the chief financial officer owned 5,226 shares of the company’s stock, valued at approximately $1,683,921.72. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 739,515 shares of company stock worth $280,933,525 in the last ninety days. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COIN shares. Wall Street Zen raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. China Renaissance started coverage on shares of Coinbase Global in a research note on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price target on the stock. BTIG Research started coverage on Coinbase Global in a research report on Wednesday, October 1st. They set a “buy” rating and a $410.00 price objective for the company. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. Finally, Jefferies Financial Group lifted their target price on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $367.27.

Coinbase Global Stock Performance

COIN opened at $375.78 on Wednesday. The business has a 50 day moving average price of $323.84 and a two-hundred day moving average price of $284.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The company has a market capitalization of $96.55 billion, a price-to-earnings ratio of 36.34 and a beta of 3.68. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. Research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Company 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.