EULAV Asset Management Increases Position in Coinbase Global, Inc. (NASDAQ:COIN)

EULAV Asset Management raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 37.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,000 shares of the cryptocurrency exchange’s stock after purchasing an additional 20,000 shares during the period. EULAV Asset Management’s holdings in Coinbase Global were worth $13,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Coinbase Global in the 3rd quarter valued at $809,000. Prospera Financial Services Inc grew its position in shares of Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock valued at $353,000 after buying an additional 68 shares during the last quarter. Caprock Group LLC grew its position in shares of Coinbase Global by 43.0% in the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange’s stock valued at $2,942,000 after buying an additional 4,965 shares during the last quarter. Windle Wealth LLC grew its position in shares of Coinbase Global by 2.4% in the 3rd quarter. Windle Wealth LLC now owns 6,872 shares of the cryptocurrency exchange’s stock valued at $1,224,000 after buying an additional 158 shares during the last quarter. Finally, CAP Partners LLC grew its position in shares of Coinbase Global by 12.8% in the 3rd quarter. CAP Partners LLC now owns 6,191 shares of the cryptocurrency exchange’s stock valued at $1,103,000 after buying an additional 704 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 0.3 %

Shares of NASDAQ COIN opened at $324.57 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $100.01 and a 52 week high of $334.86. The firm has a 50-day moving average price of $205.45 and a 200 day moving average price of $213.30. The stock has a market capitalization of $81.26 billion, a price-to-earnings ratio of 55.39 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $91,487.18. This trade represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,822 shares of company stock worth $30,921,194. 23.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COIN. Compass Point dropped their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Barclays increased their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $251.00.

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.