Pathway Financial Advisers LLC Has $637,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Pathway Financial Advisers LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 16,928.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,576 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,555 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Coinbase Global were worth $637,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Integrated Advisors Network LLC grew its position in Coinbase Global by 104.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after purchasing an additional 1,005 shares during the period. abrdn plc grew its position in Coinbase Global by 625.1% in the 3rd quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock valued at $6,198,000 after purchasing an additional 29,990 shares during the period. Frank Rimerman Advisors LLC grew its position in Coinbase Global by 6.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,497 shares of the cryptocurrency exchange’s stock valued at $267,000 after purchasing an additional 85 shares during the period. PFG Investments LLC grew its position in Coinbase Global by 65.2% in the 3rd quarter. PFG Investments LLC now owns 1,900 shares of the cryptocurrency exchange’s stock valued at $339,000 after purchasing an additional 750 shares during the period. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in Coinbase Global in the 3rd quarter valued at $233,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.6 %

Shares of NASDAQ COIN opened at $211.74 on Thursday. Coinbase Global, Inc. has a 12 month low of $73.56 and a 12 month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $52.61 billion, a price-to-earnings ratio of 38.01 and a beta of 3.35. The business has a 50-day moving average of $181.94 and a 200-day moving average of $209.22.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) EPS. Sell-side analysts expect that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $188.94, for a total value of $283,410.00. Following the completion of the sale, the chief operating officer now directly owns 197,101 shares of the company’s stock, valued at approximately $37,240,262.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,687 shares of company stock valued at $14,908,594 over the last quarter. 23.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COIN has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $242.94.

About Coinbase Global

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.