American Century Companies Inc. Buys 435,886 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

American Century Companies Inc. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 1,136.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,234 shares of the cryptocurrency exchange’s stock after acquiring an additional 435,886 shares during the period. American Century Companies Inc. owned about 0.19% of Coinbase Global worth $105,389,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. Concord Wealth Partners grew its position in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. bought a new position in Coinbase Global in the 1st quarter worth about $32,000. Crewe Advisors LLC increased its position in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Coinbase Global during the 2nd quarter valued at $29,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN stock opened at $163.05 on Friday. The firm’s 50 day moving average price is $204.20 and its 200-day moving average price is $223.08. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $40.51 billion, a P/E ratio of 32.54 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business posted ($0.42) EPS. Coinbase Global’s revenue was up 104.8% on a year-over-year basis. As a group, equities research analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $206.00 to $169.00 in a report on Friday, September 6th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Bank of America lowered their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, HC Wainwright dropped their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $246.06.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.95, for a total value of $335,925.00. Following the sale, the chief operating officer now owns 205,971 shares in the company, valued at $46,127,205.45. The disclosure for this sale can be found here. Insiders sold 110,062 shares of company stock worth $22,872,039 over the last 90 days. 23.43% of the stock is currently owned by insiders.

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.