Chicago Partners Investment Group LLC Acquires 59 Shares of Coinbase Global, Inc. $COIN

Chicago Partners Investment Group LLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,092 shares of the cryptocurrency exchange’s stock after buying an additional 59 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Coinbase Global were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COIN. Groupama Asset Managment grew its stake 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 buying an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. grew 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 worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. Nuveen LLC bought a new position in Coinbase Global in the first quarter worth approximately $83,454,000. Amundi grew 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 worth $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Coinbase Global by 2,647.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock worth $66,572,000 after purchasing an additional 191,300 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of several research analyst reports. Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Needham & Company LLC increased their price objective on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Citigroup increased their target price on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $376.09.

Coinbase Global Stock Up 0.8%

Shares of NASDAQ COIN opened at $322.76 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $82.93 billion, a PE ratio of 31.21 and a beta of 3.68. The stock’s fifty day simple moving average is $328.89 and its two-hundred day simple moving average is $297.17. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

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

Insider Activity

In other news, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the sale, the chief financial officer owned 84,820 shares in the company, valued at approximately $29,212,856.20. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total value of $3,458,800.00. Following the sale, the insider owned 82,328 shares of the company’s stock, valued at approximately $28,475,608.64. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,657 shares of company stock worth $67,479,576. Insiders own 17.65% of the company’s stock.

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.