Berkshire Capital Holdings Inc. Has $16.76 Million Stock Holdings in Coinbase Global, Inc. $COIN

Berkshire Capital Holdings Inc. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 478,200.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,830 shares of the cryptocurrency exchange’s stock after buying an additional 47,820 shares during the period. Coinbase Global comprises about 5.9% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 5th biggest holding. Berkshire Capital Holdings Inc.’s holdings in Coinbase Global were worth $16,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Townsquare Capital LLC boosted its holdings in Coinbase Global by 28.0% in the first quarter. Townsquare Capital LLC now owns 6,792 shares of the cryptocurrency exchange’s stock valued at $1,170,000 after acquiring an additional 1,484 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Coinbase Global in the 1st quarter worth approximately $759,000. Nuveen LLC purchased a new position in shares of Coinbase Global in the 1st quarter valued at approximately $83,454,000. SouthState Corp boosted its position in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in Coinbase Global by 6.9% in the first quarter. Independent Advisor Alliance now owns 8,004 shares of the cryptocurrency exchange’s stock worth $1,378,000 after purchasing an additional 516 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 0.8%

COIN stock opened at $275.09 on Thursday. The stock has a market capitalization of $74.18 billion, a P/E ratio of 23.80 and a beta of 3.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The business has a fifty day moving average price of $311.31 and a 200-day moving average price of $318.57.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on COIN. Rothschild & Co Redburn lowered their price objective on Coinbase Global from $417.00 to $404.00 and set a “buy” rating for the company in a research report on Friday, November 28th. BTIG Research increased their price target on shares of Coinbase Global from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. UBS Group set a $404.00 price target on shares of Coinbase Global in a research report on Friday, October 24th. Erste Group Bank cut shares of Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Wall Street Zen downgraded shares of Coinbase Global from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $396.94.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $273.86, for a total value of $10,954,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lawrence J. Brock sold 5,902 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $250.58, for a total value of $1,478,923.16. Following the completion of the transaction, the insider directly owned 497 shares in the company, valued at $124,538.26. This trade represents a 92.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 815,846 shares of company stock valued at $248,642,353 over the last ninety days. 16.56% of the stock is owned by insiders.

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.