WIM INVESTMENT MANAGEMENT Ltd Acquires Shares of 5,900 Coinbase Global, Inc. $COIN

WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, HoldingsChannel reports. The firm purchased 5,900 shares of the cryptocurrency exchange’s stock, valued at approximately $2,068,000. Coinbase Global makes up approximately 0.7% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 14th largest position.

Other large investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. bought a new stake in shares of Coinbase Global during the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global during the 1st quarter worth $31,000. SouthState Corp lifted its position in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Finally, City State Bank bought a new position in shares of Coinbase Global in the second quarter worth about $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $309.14 on Friday. The company has a market capitalization of $79.43 billion, a PE ratio of 26.74 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The firm has a fifty day simple moving average of $333.93 and a 200 day simple moving average of $310.35.

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

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at $186,977.22. This trade represents a 97.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 15,439 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 205,657 shares of company stock valued at $67,989,576. 17.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JMP Securities raised their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research report on Monday, July 14th. Oppenheimer reissued an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their target price on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $384.00 price objective on shares of Coinbase Global in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $397.36.

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.