Harvest Portfolios Group Inc. Decreases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Harvest Portfolios Group Inc. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,915 shares of the cryptocurrency exchange’s stock after selling 48 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Coinbase Global were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Crewe Advisors LLC boosted its position in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Coinbase Global in the second quarter valued at $29,000. Geneos Wealth Management Inc. grew its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc raised its stake in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $32,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 31.1 %

COIN stock opened at $254.31 on Thursday. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 43.40 and a beta of 3.34. The firm has a 50-day moving average of $180.54 and a two-hundred day moving average of $208.28. Coinbase Global, Inc. has a 12 month low of $84.30 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 0.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 company 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 business’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at approximately $35,598,033.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred 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 sale, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,187 shares of company stock worth $15,213,544 in the last quarter. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. Barclays raised their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Finally, Mizuho lifted their price target on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $246.28.

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.