COIN Stock: Several Hedge Funds Recently Modified Their Stakes

Sunbelt Securities Inc. boosted its stake in shares of Coinbase Global, Inc. (NASDAQ: COIN) by 203.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission.

Sunbelt Securities Inc. increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) shares by 203.0% in the first quarter, according to its recent disclosure with the Securities & Exchange Commission. The firm owned 300 shares of the cryptocurrency exchange’s stock after purchasing an additional 201 shares during the quarter. Sunbelt Securities Inc.’s holdings in Coinbase Global were valued at $80,000 at the end of the most recent quarter.

Here is a summary of how other hedge funds have adjusted their COIN positions:

PNC Financial Services Group Inc. increased its stake in Coinbase Global by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now holds 5,030 shares of the cryptocurrency exchange’s stock valued at $378,000 after buying an additional 145 shares during the last quarter.

Envestnet Asset Management Inc. boosted its stake in Coinbase Global by 55.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock valued at $3,579,000 after purchasing an additional 16,914 shares during the period.

Treasurer of the State of North Carolina grew its holdings in Coinbase Global by 3.2% in the 3rd quarter. Treasurer of the State of North Carolina now owns 75,160 shares of the cryptocurrency exchange’s stock valued at $5,643,000 after buying an additional 2,320 shares during the last quarter.

Bank of Nova Scotia bought a new position in Coinbase Global in the 3rd quarter worth approximately $450,000.

Finally, Legal & General Group Plc lifted its holdings in shares of Coinbase Global by 2.3% during the third quarter. Legal & General Group Plc now owns 518,814 shares of the cryptocurrency exchange’s stock worth $38,953,000 after buying an additional 11,730 shares during the last quarter.

Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global, Inc. (NASDAQ:COIN)’s stock opened at $222.23 on Friday. The company’s fifty day moving average is $227.70 and its two-hundred day moving average is $201.84. The company’s debt-to-equity ratio is 0.52, quick ratio is 1.02 and current ratio is 1.02. The company has a market capitalization of $54.57 billion, a P/E ratio of 44.36 and a beta of 3.44. Coinbase Global, Inc. has a 52 week low of $68.15 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion.

Equities research analysts have assigned the stock a consensus Hold rating and an average price objective of $215.50. According to MarketBeat.com, seven analysts have assigned the stock a Sell rating, nine have assigned it a Hold rating, and nine have assigned it a Buy rating.

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