Caxton Associates LLP Invests $12.62 Million in Coinbase Global, Inc. $COIN

Caxton Associates LLP bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 36,000 shares of the cryptocurrency exchange’s stock, valued at approximately $12,618,000.

Several other large investors have also added to or reduced their stakes in COIN. Vanguard Group Inc. increased its holdings in Coinbase Global by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after purchasing an additional 4,914,407 shares in the last quarter. Norges Bank purchased a new position in shares of Coinbase Global during the second quarter valued at approximately $1,044,354,000. Geode Capital Management LLC grew its holdings in Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock worth $1,940,805,000 after buying an additional 1,755,146 shares in the last quarter. Groupama Asset Managment raised its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coinbase Global by 53.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,455,916 shares of the cryptocurrency exchange’s stock valued at $510,284,000 after acquiring an additional 504,068 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 100,000 shares of Coinbase Global stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total value of $31,088,000.00. Following the completion of the sale, the chief operating officer directly owned 187,802 shares of the company’s stock, valued at approximately $58,383,885.76. This trade represents a 34.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 815,846 shares of company stock valued at $248,642,353 in the last 90 days. Insiders own 16.56% of the company’s stock.

Coinbase Global Stock Down 0.6%

COIN opened at $267.46 on Friday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company’s 50-day moving average price is $306.99 and its two-hundred day moving average price is $318.61. The stock has a market cap of $72.12 billion, a price-to-earnings ratio of 23.14 and a beta of 3.69. 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 (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. Coinbase Global’s revenue was up 55.1% on a year-over-year basis. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COIN shares. JPMorgan Chase & Co. lowered their target price on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Mizuho upped their price objective on shares of Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. HC Wainwright upgraded shares of Coinbase Global from a “sell” rating to a “buy” rating and increased their price objective for the company from $300.00 to $425.00 in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Finally, Rothschild & Co Redburn reduced their target price on Coinbase Global from $417.00 to $404.00 and set a “buy” rating for the company in a report on Friday, November 28th. One investment 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 company’s stock. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $394.67.

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.