Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by World Equity Group Inc.

World Equity Group Inc. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 22.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,560 shares of the cryptocurrency exchange’s stock after buying 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.

A number of other large investors have also modified their holdings of the business. Global Retirement Partners LLC lifted its holdings in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at $2,908,000. Intech Investment Management LLC increased its stake in shares of Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after acquiring an additional 33,240 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Coinbase Global by 130.5% during the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Coinbase Global by 122.2% during the third quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock valued at $1,337,000 after purchasing an additional 4,127 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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

Coinbase Global Stock Performance

Shares of COIN stock opened at $186.27 on Tuesday. The firm has a market cap of $46.28 billion, a price-to-earnings ratio of 31.79 and a beta of 3.33. 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, Inc. has a 1 year low of $84.09 and a 1 year high of $283.48. The stock’s 50-day moving average is $180.63 and its two-hundred day moving average is $208.40.

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 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The business’s revenue was up 78.8% on a year-over-year basis. Analysts predict that Coinbase Global, Inc. will post 4.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on COIN shares. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. The Goldman Sachs Group decreased their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Barclays upped their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Compass Point dropped their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.