Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 481.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,687 shares of the cryptocurrency exchange’s stock after acquiring an additional 9,678 shares during the period. Benjamin Edwards Inc.’s holdings in Coinbase Global were worth $2,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC raised its position in shares of 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 in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth about $25,000. Spirit of America Management Corp NY acquired a new stake in shares of Coinbase Global during the 2nd quarter worth about $33,000. Continuum Advisory LLC raised its position in shares of Coinbase Global by 3,000.0% during the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in Coinbase Global during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the sale, the insider now directly owns 69,407 shares in the company, valued at approximately $21,218,413.97. The trade was a 12.59 % 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 this link. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 216,644 shares of company stock worth $62,944,656. 23.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC lifted their price target on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Monness Crespi & Hardt assumed coverage on Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $265.33.

Coinbase Global Stock Up 7.0 %

Coinbase Global stock opened at $330.94 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $341.75. The company has a market cap of $82.85 billion, a PE ratio of 55.81 and a beta of 3.57. The stock’s 50 day moving average price is $233.57 and its 200 day moving average price is $220.08.

Coinbase Global (NASDAQ:COIN) last posted 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 firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

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.