Charles Schwab Investment Management Inc. Buys 52,856 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Charles Schwab Investment Management Inc. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 6.1% during the third quarter, HoldingsChannel.com reports. The fund owned 919,078 shares of the cryptocurrency exchange’s stock after acquiring an additional 52,856 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Coinbase Global were worth $163,752,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COIN. Crewe Advisors LLC increased its holdings in Coinbase Global by 547.4% during the 2nd 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 bought a new position in shares of Coinbase Global in the second quarter valued at about $29,000. Versant Capital Management Inc lifted its position in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Spirit of America Management Corp NY bought a new stake in Coinbase Global during the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC increased its position in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Up 3.2 %

Shares of NASDAQ COIN opened at $304.64 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $107.98 and a twelve month high of $341.75. The company’s fifty day moving average is $214.20 and its 200-day moving average is $215.18. The stock has a market cap of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue was up 78.8% on a year-over-year basis. Equities research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analysts Set New Price Targets

COIN has been the topic of a number of research reports. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt assumed coverage on Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective on the stock. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Compass Point decreased their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $251.00.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the sale, the director now owns 50,000 shares in the company, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 177,129 shares of company stock valued at $46,522,970. 23.43% of the stock is owned by corporate insiders.

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.