Police & Firemen s Retirement System of New Jersey Has $10.98 Million Stock Holdings in Coinbase Global, Inc. $COIN

Police & Firemen s Retirement System of New Jersey grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,329 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,853 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Coinbase Global were worth $10,981,000 as of its most recent SEC filing.

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

Coinbase Global Stock Performance

Shares of COIN opened at $283.14 on Friday. The company’s fifty day moving average is $333.77 and its 200-day moving average is $313.21. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a market cap of $76.35 billion, a price-to-earnings ratio of 24.49 and a beta of 3.67. 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 (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. Coinbase Global’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $177,519.74. This represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $301.46, for a total value of $3,014,600.00. Following the completion of the transaction, the director directly owned 204,973 shares in the company, valued at $61,791,160.58. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 643,346 shares of company stock worth $203,470,475 in the last 90 days. Insiders own 17.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on COIN shares. Erste Group Bank began coverage on Coinbase Global in a research report on Wednesday, July 23rd. They issued a “buy” rating for the company. Barclays reduced their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Mizuho lifted their target price on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Monness Crespi & Hardt upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Monday. Finally, Jefferies Financial Group restated a “hold” rating and set a $384.00 price target on shares of Coinbase Global in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.94.

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.