NTV Asset Management LLC Makes New $876,000 Investment in Coinbase Global, Inc. $COIN

NTV Asset Management LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the cryptocurrency exchange’s stock, valued at approximately $876,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of COIN. Cadent Capital Advisors LLC increased its position in shares of Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after acquiring an additional 30 shares during the last quarter. Ameriflex Group Inc. increased its position in shares of Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after acquiring an additional 30 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Coinbase Global by 4.2% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,015 shares of the cryptocurrency exchange’s stock valued at $356,000 after buying an additional 41 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in Coinbase Global by 1.6% in the second quarter. Pallas Capital Advisors LLC now owns 2,662 shares of the cryptocurrency exchange’s stock valued at $933,000 after buying an additional 41 shares during the last quarter. Finally, Clare Market Investments LLC increased its holdings in Coinbase Global by 1.8% in the second quarter. Clare Market Investments LLC now owns 2,552 shares of the cryptocurrency exchange’s stock valued at $894,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 2.1%

NASDAQ:COIN opened at $380.02 on Friday. The firm has a market capitalization of $97.64 billion, a PE ratio of 36.75 and a beta of 3.68. The stock has a 50 day moving average of $323.62 and a 200-day moving average of $280.84. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup boosted their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Jefferies Financial Group boosted their price objective on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. China Renaissance assumed coverage on Coinbase Global in a report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price objective for the company. Argus assumed coverage on Coinbase Global in a report on Monday, July 14th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Bank of America lowered their price objective on Coinbase Global from $369.00 to $340.00 in a report on Wednesday. One equities research 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 company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $367.27.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 198,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $209,279.62. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 714,515 shares of company stock valued at $272,046,775 over the last ninety days. Corporate insiders own 17.65% of the company’s stock.

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.