5,181 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Oak Thistle LLC

Oak Thistle LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,181 shares of the cryptocurrency exchange’s stock, valued at approximately $1,286,000.

Several other hedge funds have also added to or reduced their stakes in COIN. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the third quarter worth about $409,919,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after buying an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC grew its holdings in shares of Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after buying an additional 17,650 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,333 shares of company stock worth $95,092,118. 23.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $284.17.

Get Our Latest Stock Report on COIN

Coinbase Global Stock Up 1.7 %

NASDAQ COIN opened at $255.37 on Wednesday. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $63.93 billion, a P/E ratio of 43.58 and a beta of 3.59. The stock’s 50-day moving average price is $289.78 and its 200-day moving average price is $230.14.

Coinbase Global (NASDAQ:COINGet Free Report) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, equities research analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Coinbase Global Company 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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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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