Bessemer Group Inc. Has $408,000 Stock Holdings in Coinbase Global, Inc. $COIN

Bessemer Group Inc. boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 672.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,166 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,015 shares during the period. Bessemer Group Inc.’s holdings in Coinbase Global were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in Coinbase Global during the second quarter valued at about $281,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Coinbase Global by 198.0% during the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 4,240 shares of the cryptocurrency exchange’s stock valued at $1,568,000 after purchasing an additional 2,817 shares in the last quarter. Delta Investment Management LLC acquired a new stake in Coinbase Global during the second quarter valued at approximately $287,000. Envestnet Asset Management Inc. boosted its holdings in shares of Coinbase Global by 18.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 60,692 shares of the cryptocurrency exchange’s stock worth $21,272,000 after acquiring an additional 9,245 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Coinbase Global by 29.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 30,336 shares of the cryptocurrency exchange’s stock worth $10,632,000 after acquiring an additional 6,981 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $343.78 on Monday. The firm has a market cap of $88.33 billion, a price-to-earnings ratio of 29.74 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company’s fifty day simple moving average is $333.43 and its 200 day simple moving average is $307.43.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 55.1% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COIN. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Rosenblatt Securities reduced their price objective on shares of Coinbase Global from $470.00 to $450.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. BTIG Research upped their target price on shares of Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Compass Point lowered their target price on shares of Coinbase Global from $277.00 to $266.00 in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.91.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $28,475,608.64. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. This trade represents a 97.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 180,657 shares of company stock valued at $59,552,326 over the last three months. Corporate insiders own 23.43% of the company’s stock.

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.