Coinbase Global, Inc. $COIN Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 42.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 332,791 shares of the cryptocurrency exchange’s stock after purchasing an additional 98,827 shares during the quarter. California Public Employees Retirement System owned 0.13% of Coinbase Global worth $116,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Evelyn Partners Investment Management Europe Ltd lifted its holdings in shares of Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after buying an additional 36 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the 2nd quarter worth $30,000. S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the 1st quarter worth $31,000. SouthState Corp grew its stake in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares during the period. Finally, City State Bank purchased a new position in shares of Coinbase Global in the 2nd quarter valued at about $33,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $260.33, for a total value of $715,907.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,787 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $244.49, for a total transaction of $436,903.63. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 728,971 shares of company stock valued at $225,494,313. 16.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Benchmark reissued a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Wall Street Zen downgraded Coinbase Global from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. China Renaissance lifted their price objective on Coinbase Global from $444.60 to $479.30 in a report on Monday, November 3rd. Finally, Mizuho boosted their target price on Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $396.94.

Coinbase Global Stock Performance

Coinbase Global stock opened at $269.73 on Monday. The stock has a fifty day moving average price of $315.13 and a 200 day moving average price of $318.76. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The firm has a market capitalization of $72.73 billion, a P/E ratio of 23.33 and a beta of 3.69. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

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

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.