Logan Capital Management Inc. Decreases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Logan Capital Management Inc. lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 57,287 shares of the cryptocurrency exchange’s stock after selling 749 shares during the quarter. Logan Capital Management Inc.’s holdings in Coinbase Global were worth $10,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at $25,000. Crewe Advisors LLC lifted its position in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the period. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the 3rd quarter valued at about $32,000. Spirit of America Management Corp NY acquired a new position in shares of Coinbase Global in the second quarter valued at about $33,000. Finally, Continuum Advisory LLC raised its stake in shares of Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. This represents a 42.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,720 shares of company stock valued at $79,787,248 over the last quarter. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

NASDAQ COIN traded up $2.44 on Friday, hitting $315.40. The company had a trading volume of 930,392 shares, compared to its average volume of 11,238,714. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $78.96 billion, a PE ratio of 53.41 and a beta of 3.57. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company’s fifty day moving average price is $254.08 and its 200-day moving average price is $224.63.

Coinbase Global (NASDAQ:COIN) 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 company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COIN shares. Oppenheimer upped their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $276.22.

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.