World Equity Group Inc. Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

World Equity Group Inc. grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 22.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,560 shares of the cryptocurrency exchange’s stock after purchasing an additional 285 shares during the period. World Equity Group Inc.’s holdings in Coinbase Global were worth $278,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its stake in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Coinbase Global by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after buying an additional 55 shares during the last quarter. Versant Capital Management Inc raised its stake in 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 acquiring an additional 57 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after acquiring an additional 57 shares during the period. Finally, Benjamin Edwards Inc. boosted its stake in Coinbase Global by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after purchasing an additional 61 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on COIN shares. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Monness Crespi & Hardt started 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 for the company. Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday. Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $246.28.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on 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 completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,187 shares of company stock valued at $15,213,544 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Trading Up 1.9 %

NASDAQ:COIN opened at $186.27 on Tuesday. The company’s 50 day moving average price is $180.63 and its 200-day moving average price is $208.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $84.09 and a 52 week high of $283.48. The stock has a market cap of $46.28 billion, a price-to-earnings ratio of 31.79 and a beta of 3.33.

Coinbase Global (NASDAQ:COIN) last announced its earnings results 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). The firm had revenue of $1.21 billion during 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 company’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.02 earnings per share 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.