Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 76.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,879 shares of the cryptocurrency exchange’s stock after buying an additional 1,249 shares during the period. Assetmark Inc.’s holdings in Coinbase Global were worth $513,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Global Retirement Partners LLC increased its stake in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after acquiring an additional 1,540 shares during the period. Sanctuary Advisors LLC bought a new position in Coinbase Global in the 2nd quarter worth $2,908,000. Intech Investment Management LLC grew its position in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Coinbase Global by 237.5% during the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after acquiring an additional 23,040 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Coinbase Global by 122.2% in the third quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock valued at $1,337,000 after buying an additional 4,127 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Barclays boosted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Stock Up 9.7 %

Coinbase Global stock opened at $305.85 on Friday. Coinbase Global, Inc. has a twelve month low of $94.45 and a twelve month high of $334.86. The company has a 50 day moving average of $198.72 and a 200-day moving average of $211.83. The stock has a market capitalization of $76.57 billion, a PE ratio of 52.19 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $15,000,000. This represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,822 shares of company stock worth $30,921,194 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global 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.