Clarity Capital Partners LLC Purchases 165 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Clarity Capital Partners LLC lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,681 shares of the cryptocurrency exchange’s stock after buying an additional 165 shares during the period. Coinbase Global comprises 1.8% of Clarity Capital Partners LLC’s holdings, making the stock its 14th largest position. Clarity Capital Partners LLC’s holdings in Coinbase Global were worth $2,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC boosted its stake in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc grew its position in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $33,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the business’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 sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,187 shares of company stock valued at $15,213,544 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $186.27 on Tuesday. The firm’s fifty day moving average is $180.63 and its two-hundred day moving average is $208.40. Coinbase Global, Inc. has a 52-week low of $84.09 and a 52-week high of $283.48. The company has a market cap of $46.28 billion, a P/E ratio of 31.79 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays upped their target price on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group cut their price target 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. Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $246.28.

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.