Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,678 shares of the cryptocurrency exchange’s stock after acquiring an additional 500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coinbase Global were worth $4,575,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at $25,000. Crewe Advisors LLC boosted its stake in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Coinbase Global during the second quarter worth about $29,000. Versant Capital Management Inc increased its position in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,719 shares of company stock worth $65,309,711 over the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Oppenheimer lifted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Compass Point decreased their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $255.22.

Coinbase Global Trading Down 4.8 %

Shares of Coinbase Global stock opened at $296.20 on Monday. The business has a 50 day moving average price of $228.17 and a 200 day moving average price of $218.64. The company has a market capitalization of $74.15 billion, a P/E ratio of 50.55 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $341.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was up 78.8% compared to the same quarter last year. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

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.