Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,313 shares of the cryptocurrency exchange’s stock after purchasing an additional 189 shares during the period. Ballentine Partners LLC’s holdings in Coinbase Global were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares during the last quarter. Crewe Advisors LLC raised its position in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory acquired a new position in Coinbase Global in the second quarter valued at approximately $29,000. Finally, Versant Capital Management Inc lifted its holdings in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 2.0 %

NASDAQ:COIN opened at $205.04 on Monday. Coinbase Global, Inc. has a 1 year low of $70.42 and a 1 year high of $283.48. The stock has a market cap of $50.35 billion, a P/E ratio of 40.93 and a beta of 3.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day simple moving average of $181.15 and a 200-day simple moving average of $209.71.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,187 shares of company stock worth $13,158,294. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COIN shares. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright lowered their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Compass Point decreased their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Bank of America dropped their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $242.82.

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.