2,000 Shares in Coinbase Global, Inc. $COIN Bought by Credit Capital Investments LLC

Credit Capital Investments LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,000 shares of the cryptocurrency exchange’s stock, valued at approximately $701,000. Coinbase Global makes up 1.0% of Credit Capital Investments LLC’s holdings, making the stock its 16th largest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its holdings in shares of Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after buying an additional 9,952 shares during the last quarter. Bessemer Group Inc. grew its holdings in Coinbase Global by 672.2% during the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after acquiring an additional 1,015 shares during the period. SP Asset Management LLC purchased a new position in shares of Coinbase Global during the 2nd quarter valued at approximately $360,000. Kera Capital Partners Inc. increased its holdings in Coinbase Global by 3.0% in the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after buying an additional 1,085 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after purchasing an additional 5,402 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 0.0%

Shares of NASDAQ COIN opened at $304.00 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock has a market cap of $81.97 billion, a PE ratio of 26.30 and a beta of 3.67. The business has a 50-day moving average price of $334.24 and a 200 day moving average price of $313.42. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64.

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

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at $190,054.32. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This trade represents a 15.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 487,658 shares of company stock valued at $154,461,520. Company insiders own 17.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Piper Sandler reissued a “neutral” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Keefe, Bruyette & Woods dropped their price target on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. President Capital raised their price objective on Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group cut their target price on Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $399.94.

About Coinbase Global

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.