Cannon Global Investment Management LLC Invests $267,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Cannon Global Investment Management LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, HoldingsChannel reports. The fund purchased 1,500 shares of the cryptocurrency exchange’s stock, valued at approximately $267,000.

A number of other hedge funds also recently bought and sold shares of COIN. Crewe Advisors LLC raised its stake in Coinbase Global by 547.4% during the second 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 purchased a new stake in Coinbase Global during the second quarter valued at $29,000. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% during 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 during the last quarter. Versant Capital Management Inc increased its position in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Coinbase Global during the third quarter valued at $32,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’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 transaction of $283,410.00. Following the transaction, the chief operating officer now directly owns 197,101 shares of the company’s stock, valued at $37,240,262.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,687 shares of company stock valued at $14,908,594. 23.43% of the stock is currently owned by insiders.

Coinbase Global Stock Up 2.0 %

Coinbase Global stock traded up $3.63 during midday trading on Friday, hitting $182.88. 14,443,372 shares of the company’s stock were exchanged, compared to its average volume of 10,663,046. The company has a market cap of $45.44 billion, a PE ratio of 31.21 and a beta of 3.33. The firm has a 50-day moving average of $180.98 and a two-hundred day moving average of $208.66. Coinbase Global, Inc. has a 12 month low of $80.81 and a 12 month high of $283.48. 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 released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate 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 net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 4.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COIN shares. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective on the stock. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays upped their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $246.28.

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.