Oriental Harbor Investment Master Fund Invests $54.98 Million in Coinbase Global, Inc. $COIN

by · The Markets Daily

Oriental Harbor Investment Master Fund acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 156,865 shares of the cryptocurrency exchange’s stock, valued at approximately $54,980,000. Coinbase Global accounts for about 3.9% of Oriental Harbor Investment Master Fund’s holdings, making the stock its 12th biggest holding. Oriental Harbor Investment Master Fund owned 0.06% of Coinbase Global as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COIN. Cadent Capital Advisors LLC lifted its stake in shares of Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after purchasing an additional 30 shares during the period. Ameriflex Group Inc. increased its holdings in Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after purchasing an additional 30 shares in the last quarter. Pettinga Financial Advisors LLC increased its holdings in Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after purchasing an additional 34 shares in the last quarter. Hemington Wealth Management lifted its stake in Coinbase Global by 12.1% in the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after buying an additional 38 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Coinbase Global by 13.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock worth $113,000 after buying an additional 39 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at $186,977.22. The trade was a 97.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,515 shares of company stock valued at $65,362,451 over the last 90 days. Insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Citigroup raised their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Jefferies Financial Group lifted their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Needham & Company LLC increased their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, BTIG Research assumed coverage on Coinbase Global in a research note on Wednesday, October 1st. They issued a “buy” rating and a $410.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.94.

View Our Latest Research Report on COIN

Coinbase Global Trading Down 1.8%

NASDAQ:COIN opened at $330.25 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $84.85 billion, a PE ratio of 31.94 and a beta of 3.68. The firm has a 50-day moving average of $327.75 and a 200-day moving average of $291.54.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Profile

(Free Report)

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.

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