Holocene Advisors LP Makes New $38.54 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Holocene Advisors LP bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 216,283 shares of the cryptocurrency exchange’s stock, valued at approximately $38,535,000. Holocene Advisors LP owned 0.09% of Coinbase Global as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of COIN. Cetera Investment Advisers increased its position in shares of Coinbase Global by 303.5% during the first quarter. Cetera Investment Advisers now owns 25,935 shares of the cryptocurrency exchange’s stock worth $6,876,000 after purchasing an additional 19,508 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Coinbase Global by 49.2% in the first quarter. Cetera Advisors LLC now owns 10,911 shares of the cryptocurrency exchange’s stock valued at $2,893,000 after buying an additional 3,597 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter worth about $29,000. Finally, Simplicity Wealth LLC grew its stake in Coinbase Global by 11.5% during the 2nd quarter. Simplicity Wealth LLC now owns 3,752 shares of the cryptocurrency exchange’s stock valued at $834,000 after acquiring an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $161,639.80. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,644 shares of company stock valued at $59,887,556 over the last three months. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Needham & Company LLC boosted their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $265.33.

Coinbase Global Price Performance

COIN stock opened at $302.40 on Tuesday. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $341.75. The firm has a market capitalization of $75.71 billion, a P/E ratio of 51.60 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $228.17 and its two-hundred day moving average is $218.63.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

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.