1,822 Shares in Coinbase Global, Inc. $COIN Acquired by Corton Capital Inc.

Corton Capital Inc. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,822 shares of the cryptocurrency exchange’s stock, valued at approximately $639,000. Coinbase Global comprises approximately 0.7% of Corton Capital Inc.’s holdings, making the stock its 5th largest holding.

A number of other hedge funds have also recently bought and sold shares of COIN. Groupama Asset Managment boosted its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares during the last quarter. Nuveen LLC bought a new position in Coinbase Global in the 1st quarter valued at $83,454,000. Amundi boosted its position in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Coinbase Global by 2,647.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock valued at $66,572,000 after buying an additional 191,300 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COIN. The Goldman Sachs Group raised their price target on Coinbase Global from $363.00 to $385.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research report on Friday. Williams Trading set a $405.00 price objective on Coinbase Global in a research note on Thursday, July 31st. HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and raised their price objective for the stock from $300.00 to $425.00 in a research note on Thursday. Finally, Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $398.91.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total value of $1,515,404.00. Following the completion of the transaction, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at $29,212,856.20. This represents a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 180,657 shares of company stock worth $59,552,326 over the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $343.78 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The stock’s 50-day simple moving average is $333.43 and its 200 day simple moving average is $307.43. The company has a market cap of $88.33 billion, a P/E ratio of 29.74 and a beta of 3.67. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $0.28 earnings per share. Coinbase Global’s quarterly revenue was up 55.1% on a year-over-year basis. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS 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.