Oriental Harbor Investment Master Fund Takes Position in Coinbase Global, Inc. $COIN

Oriental Harbor Investment Master Fund purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, Holdings Channel reports. The fund purchased 156,865 shares of the cryptocurrency exchange’s stock, valued at approximately $54,980,000. Coinbase Global makes up about 3.9% of Oriental Harbor Investment Master Fund’s holdings, making the stock its 12th largest position.

Several other institutional investors also recently added to or reduced their stakes in COIN. Vanguard Group Inc. boosted its stake in Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after purchasing an additional 34,462 shares during the period. Groupama Asset Managment lifted its stake in Coinbase Global by 100.0% in 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. Amundi lifted its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after purchasing an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Coinbase Global by 0.6% during the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after purchasing an additional 7,675 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the sale, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,515 shares of company stock worth $65,362,451 over the last ninety days. 17.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on COIN shares. Argus began coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 target price on the stock. The Goldman Sachs Group boosted their price objective on Coinbase Global from $363.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays reduced their target price on shares of Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a report on Friday, October 3rd. Finally, HC Wainwright restated a “sell” rating and set a $300.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $367.94.

Coinbase Global Stock Performance

NASDAQ COIN opened at $330.25 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. 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 stock has a market capitalization of $84.85 billion, a PE ratio of 31.94 and a beta of 3.68. The company’s 50 day simple moving average is $327.75 and its two-hundred day simple moving average is $291.54.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share 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.