Public Employees Retirement Association of Colorado Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Public Employees Retirement Association of Colorado grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,599 shares of the cryptocurrency exchange’s stock after buying an additional 955 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Coinbase Global were worth $4,931,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in COIN. Raymond James & Associates raised its position in Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares during the period. Blue Trust Inc. increased its position in shares of Coinbase Global by 902.6% in the fourth quarter. Blue Trust Inc. now owns 1,524 shares of the cryptocurrency exchange’s stock valued at $265,000 after acquiring an additional 1,372 shares during the period. Caprock Group LLC increased its position in shares of Coinbase Global by 6.8% in the fourth quarter. Caprock Group LLC now owns 3,522 shares of the cryptocurrency exchange’s stock valued at $613,000 after acquiring an additional 223 shares during the period. AlphaMark Advisors LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at about $33,000. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at about $361,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.70, for a total value of $344,550.00. Following the completion of the transaction, the chief operating officer now directly owns 196,471 shares in the company, valued at $45,129,388.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $943,122.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.70, for a total transaction of $344,550.00. Following the transaction, the chief operating officer now owns 196,471 shares of the company’s stock, valued at approximately $45,129,388.70. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $58,878,978 over the last three months. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

COIN stock traded down $6.04 during midday trading on Monday, reaching $236.89. 7,841,287 shares of the company’s stock traded hands, compared to its average volume of 11,351,678. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The stock has a market cap of $58.17 billion, a P/E ratio of 48.94 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average is $235.30 and its 200 day moving average is $212.30.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Sanford C. Bernstein lifted their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Wedbush boosted their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays dropped their price objective on shares of Coinbase Global from $204.00 to $196.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Singular Research reissued a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Finally, Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $237.50.

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.