Assenagon Asset Management S.A. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,364 shares of the cryptocurrency exchange’s stock after purchasing an additional 783 shares during the period. Assenagon Asset Management S.A.’s holdings in Coinbase Global were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in COIN. Oak Thistle LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth about $1,286,000. Accurate Wealth Management LLC increased its stake in shares of Coinbase Global by 10.1% in the 4th quarter. Accurate Wealth Management LLC now owns 2,338 shares of the cryptocurrency exchange’s stock valued at $605,000 after purchasing an additional 214 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Coinbase Global by 2.0% in the 4th quarter. AdvisorNet Financial Inc now owns 3,469 shares of the cryptocurrency exchange’s stock worth $861,000 after purchasing an additional 68 shares during the period. Pallas Capital Advisors LLC boosted its position in Coinbase Global by 2.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after purchasing an additional 51 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in Coinbase Global by 5.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 1,450 shares of the cryptocurrency exchange’s stock valued at $360,000 after purchasing an additional 69 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,114,162.15. This trade represents a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,489 shares of company stock valued at $109,624,297 over the last quarter. 23.43% of the stock is owned by insiders.
Coinbase Global Price Performance
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned ($0.01) EPS. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.
Wall Street Analyst Weigh In
COIN has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Oppenheimer cut their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Barclays raised their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $282.83.
View Our Latest Research Report on Coinbase Global
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.
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