Chesapeake Capital Corp IL Has $399,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Chesapeake Capital Corp IL cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 51.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,794 shares of the cryptocurrency exchange’s stock after selling 1,897 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Coinbase Global were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in COIN. Andra AP fonden bought a new stake in shares of Coinbase Global during the 2nd quarter worth $6,467,000. Royal London Asset Management Ltd. raised its stake in Coinbase Global by 14.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 77,167 shares of the cryptocurrency exchange’s stock valued at $17,149,000 after purchasing an additional 10,008 shares during the last quarter. LGT Group Foundation acquired a new position in Coinbase Global during the 2nd quarter valued at $227,000. Cowen AND Company LLC raised its position in shares of Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in shares of Coinbase Global by 38.9% in the second quarter. PFG Investments LLC now owns 1,150 shares of the cryptocurrency exchange’s stock valued at $256,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $115,883.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were 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 $15,623,742.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. The disclosure for this sale can be found here. Insiders have sold 111,562 shares of company stock worth $23,241,279 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $155.05 on Tuesday. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week 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 business has a 50 day simple moving average of $209.39 and a 200 day simple moving average of $224.24. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 30.95 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted ($0.42) EPS. The firm’s quarterly revenue was up 104.8% compared to the same quarter last year. Analysts anticipate that Coinbase Global, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright decreased their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Bank of America cut their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $246.06.

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.