Pathway Financial Advisers LLC Buys 3,555 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Pathway Financial Advisers LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 16,928.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,576 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,555 shares during the period. Pathway Financial Advisers LLC’s holdings in Coinbase Global were worth $637,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Masso Torrence Wealth Management Inc. bought a new stake in shares of Coinbase Global during the 3rd quarter worth $233,000. Forsta AP Fonden lifted its holdings in shares of Coinbase Global by 15.2% during the 3rd quarter. Forsta AP Fonden now owns 39,500 shares of the cryptocurrency exchange’s stock worth $7,038,000 after acquiring an additional 5,200 shares during the last quarter. Burford Brothers Inc. lifted its holdings in shares of Coinbase Global by 7.9% during the 3rd quarter. Burford Brothers Inc. now owns 7,081 shares of the cryptocurrency exchange’s stock worth $1,262,000 after acquiring an additional 516 shares during the last quarter. Cullinan Associates Inc. lifted its holdings in shares of Coinbase Global by 0.8% during the 3rd quarter. Cullinan Associates Inc. now owns 302,925 shares of the cryptocurrency exchange’s stock worth $53,972,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Coinbase Global by 6.0% during the 3rd quarter. Ballentine Partners LLC now owns 3,313 shares of the cryptocurrency exchange’s stock worth $590,000 after acquiring an additional 189 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now directly owns 194,971 shares in the company, valued at $45,428,243. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,187 shares of company stock valued at $13,158,294. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $205.04 on Friday. The firm’s 50-day moving average price is $181.15 and its two-hundred day moving average price is $210.00. Coinbase Global, Inc. has a 12-month low of $70.42 and a 12-month high of $283.48. The stock has a market capitalization of $50.35 billion, a price-to-earnings ratio of 40.93 and a beta of 3.35. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

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

Analysts Set New Price Targets

COIN has been the subject of a number of research analyst reports. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Compass Point decreased their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Bank of America decreased their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays lifted their target price on shares of Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.