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COINBASE GLOBAL, INC.

(COIN)
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ARK buys $110 million Coinbase shares, adding to positions

04/15/2021 | 11:38pm EDT
The logo for Coinbase Global Inc is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York

(Reuters) - Celebrity stockpicker Cathie Woods' ARK funds bought more shares of Coinbase worth $110 million a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday.

ARK, which gained prominence https://www.reuters.com/technology/cathie-woods-ark-funds-bought-246-million-coinbase-shares-2021-04-15 last year among retail investors, on Thursday bought a total of 341,186 shares across three funds, valued at $110 million at Thursday's $322.75 close.

That added to 749,205 purchased https://www.reuters.com/technology/cathie-woods-ark-funds-bought-246-million-coinbase-shares-2021-04-15 according to its Wednesday alert, or $245.9 million at Wednesday's $328.28 close.

The funds added to were its flagship ARK Innovation fund Ark Innovation ETF, its Next Generation Internet ETF and Fintech Innovation ETF. (This story corrects to show ARK's Coinbase purchases were additional shares in paragraph 1. Clarifies in paragraph 2 that shares' value is indicative.)

(Reporting by Megan Davies and Vidya Ranganathan; additional reporting by Thyagaraju Adinarayan; Editing by Shailesh Kuber)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ARK INNOVATION ETF ACC - USD -2.88% 108.34 Delayed Quote.-10.39%
COINBASE GLOBAL, INC. -5.95% 256.76 Delayed Quote.0.00%
NASDAQ COMP. 0.37% 13632.841845 Delayed Quote.5.39%
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Financials (USD)
Sales 2021 5 138 M - -
Net income 2021 1 657 M - -
Net cash 2021 1 021 M - -
P/E ratio 2021 42,8x
Yield 2021 -
Capitalization 54 382 M 54 382 M -
EV / Sales 2021 10,4x
EV / Sales 2022 11,1x
Nbr of Employees 1 249
Free-Float 64,2%
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Mean consensus BUY
Number of Analysts 8
Average target price 418,00 $
Last Close Price 273,00 $
Spread / Highest target 138%
Spread / Average Target 53,1%
Spread / Lowest Target -8,42%
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Managers and Directors
NameTitle
Brian Armstrong Chief Executive Officer & Director
Alesia J. Haas Chief Financial Officer
Fred Ehrsam Director
Schuler Barry Director
Frederick R. Wilson Director
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1st jan.Capitalization (M$)
COINBASE GLOBAL, INC.0.00%54 382