Headlands Technologies LLC Has $1.71 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Headlands Technologies LLC lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 689.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,712 shares of the cryptocurrency exchange’s stock after acquiring an additional 6,735 shares during the quarter. Headlands Technologies LLC’s holdings in Coinbase Global were worth $1,714,000 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. Vanguard Group Inc. increased its position in shares of Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares during the last quarter. Cowen AND Company LLC increased its position in shares of Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares during the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $202,936,000. Canada Pension Plan Investment Board increased its position in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Coinbase Global by 16.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 427,461 shares of the cryptocurrency exchange’s stock valued at $74,417,000 after acquiring an additional 58,878 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the sale, the chief financial officer now directly owns 182,903 shares in the company, valued at $41,901,248.27. The sale was disclosed in a filing with the SEC, which is available at this link. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the transaction, the chief financial officer now owns 182,903 shares in the company, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,562 shares of company stock worth $23,241,279. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 2.2 %

Shares of NASDAQ:COIN opened at $158.46 on Wednesday. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The stock has a market cap of $38.91 billion, a PE ratio of 31.63 and a beta of 3.36. The business has a 50 day moving average of $208.01 and a 200-day moving average of $224.18. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company’s quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) earnings per share. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COIN. The Goldman Sachs Group lowered their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright reduced their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America reduced their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $246.06.

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.