Entropy Technologies LP Purchases Shares of 3,185 Coinbase Global, Inc. (NASDAQ:COIN)

Entropy Technologies LP purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,185 shares of the cryptocurrency exchange’s stock, valued at approximately $567,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. APEIRON CAPITAL Ltd purchased a new position in shares of Coinbase Global in the 1st quarter worth approximately $108,434,000. Sei Investments Co. boosted its holdings in shares of Coinbase Global by 41.7% in 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. boosted its holdings in shares of Coinbase Global by 28.9% in 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 shares of Coinbase Global in the 1st quarter worth approximately $394,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Coinbase Global by 26.2% in 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. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 2.1 %

Shares of NASDAQ:COIN opened at $278.84 on Friday. Coinbase Global, Inc. has a 12-month low of $93.07 and a 12-month high of $334.86. The business’s fifty day simple moving average is $193.17 and its 200-day simple moving average is $210.75. The company has a market capitalization of $69.81 billion, a PE ratio of 47.58 and a beta of 3.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) 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 net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business posted ($0.01) earnings per share. The company’s revenue was up 78.8% compared to the same quarter last year. As a group, equities research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

COIN has been the subject of a number of recent research reports. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Barclays raised their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $246.28.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. The trade was a 97.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,822 shares of company stock worth $30,921,194 in the last ninety days. 23.43% of the stock is 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.