Rockefeller Capital Management L.P. Acquires 40,468 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Rockefeller Capital Management L.P. lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 44.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,562 shares of the cryptocurrency exchange’s stock after buying an additional 40,468 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Coinbase Global were worth $23,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter worth $25,000. Crewe Advisors LLC grew its holdings in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new position in Coinbase Global in the 2nd quarter worth about $29,000. Versant Capital Management Inc lifted its holdings in 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 in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at about $32,000. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $255.22.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. This represents a 11.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at approximately $52,972,696.56. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,719 shares of company stock valued at $65,309,711. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 4.8 %

Shares of NASDAQ:COIN opened at $296.20 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $74.15 billion, a P/E ratio of 50.55 and a beta of 3.34. The business’s 50-day moving average is $228.17 and its 200 day moving average is $218.64. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $341.75.

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 the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during 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 revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. On average, research analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Coinbase Global 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.