Logan Capital Management Inc. Decreases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Logan Capital Management Inc. trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,287 shares of the cryptocurrency exchange’s stock after selling 749 shares during the quarter. Logan Capital Management Inc.’s holdings in Coinbase Global were worth $10,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the third quarter valued at $25,000. Crewe Advisors LLC grew 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 worth $27,000 after acquiring an additional 104 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the third quarter worth approximately $32,000. Spirit of America Management Corp NY purchased a new stake in Coinbase Global during the second quarter valued at approximately $33,000. Finally, Continuum Advisory LLC raised its position in Coinbase Global by 3,000.0% during the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 150 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 74,956 shares in the company, valued at $12,750,015.60. This trade represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,386,983.38. The trade was a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 270,720 shares of company stock valued at $79,787,248. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 0.8 %

Shares of NASDAQ:COIN traded up $2.44 during trading hours on Friday, hitting $315.40. The company’s stock had a trading volume of 930,392 shares, compared to its average volume of 11,238,714. The firm’s fifty day moving average price is $254.08 and its 200 day moving average price is $224.63. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a market capitalization of $78.96 billion, a price-to-earnings ratio of 53.41 and a beta of 3.57. 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 (NASDAQ:COIN) last issued 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 business had revenue of $1.21 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. Barclays boosted their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday. The Goldman Sachs Group increased their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $276.22.

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.