Plato Investment Management Ltd Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Plato Investment Management Ltd lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 33.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,446 shares of the cryptocurrency exchange’s stock after buying an additional 1,122 shares during the quarter. Plato Investment Management Ltd’s holdings in Coinbase Global were worth $791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. APEIRON CAPITAL Ltd purchased a new position in Coinbase Global during the 1st quarter worth $108,434,000. Sei Investments Co. increased its holdings in Coinbase Global by 41.7% during the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock worth $2,629,000 after purchasing an additional 2,920 shares during the period. Russell Investments Group Ltd. increased its holdings in Coinbase Global by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock worth $6,138,000 after purchasing an additional 5,189 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coinbase Global during the 1st quarter worth $394,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Coinbase Global by 26.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 97,274 shares of the cryptocurrency exchange’s stock worth $25,789,000 after purchasing an additional 20,225 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN stock opened at $278.84 on Friday. The firm has a market capitalization of $69.81 billion, a price-to-earnings ratio of 47.58 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 has a fifty day moving average of $195.55 and a 200 day moving average of $211.23. Coinbase Global, Inc. has a 1 year low of $93.07 and a 1 year high of $334.86.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) 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 analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 18.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederick R. Wilson sold 40,000 shares of Coinbase Global stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $15,000,000. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,822 shares of company stock worth $30,921,194. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on COIN shares. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their target price on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. Finally, Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $246.28.

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.