Versant Capital Management Inc Acquires 57 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Versant Capital Management Inc boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 75.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 133 shares of the cryptocurrency exchange’s stock after buying an additional 57 shares during the period. Versant Capital Management Inc’s holdings in Coinbase Global were worth $30,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Coinbase Global by 18.4% during 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 buying an additional 2,624,989 shares during the period. Norges Bank bought a new stake in Coinbase Global during the fourth quarter worth about $202,936,000. a16z Perennial Management L.P. bought a new stake in Coinbase Global during the fourth quarter worth about $147,646,000. Charles Schwab Investment Management Inc. lifted its stake in Coinbase Global by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock worth $114,211,000 after purchasing an additional 37,847 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 1.9 %

COIN stock traded down $3.70 during midday trading on Wednesday, hitting $190.47. The company’s stock had a trading volume of 2,589,429 shares, compared to its average volume of 11,220,099. The company has a market cap of $46.77 billion, a PE ratio of 38.76 and a beta of 3.40. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $232.54 and its 200-day moving average is $216.27.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 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 analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on COIN. HC Wainwright lowered their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Singular Research restated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Compass Point reduced their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Mizuho boosted their price target on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $248.38.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $41,901,248.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the transaction, the chief operating officer now owns 194,971 shares in the company, valued at $45,428,243. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 4,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,221 shares of company stock worth $52,617,808. Corporate insiders own 23.43% of the company’s stock.

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.