Quantinno Capital Management LP Acquires 195 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Quantinno Capital Management LP increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.6% during the third quarter, HoldingsChannel reports. The firm owned 3,700 shares of the cryptocurrency exchange’s stock after buying an additional 195 shares during the period. Quantinno Capital Management LP’s holdings in Coinbase Global were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of COIN. Crewe Advisors LLC lifted its stake 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 acquiring an additional 104 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the third quarter valued at approximately $25,000. Spirit of America Management Corp NY purchased a new stake in Coinbase Global in the second quarter worth approximately $33,000. Continuum Advisory LLC boosted its holdings in Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in Coinbase Global in the 2nd quarter worth approximately $35,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the sale, the insider now directly owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,720 shares of company stock valued at $79,787,248. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Down 0.8 %

COIN stock opened at $310.58 on Friday. The company has a market capitalization of $77.75 billion, a price-to-earnings ratio of 53.00 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, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The business has a 50 day simple moving average of $256.88 and a two-hundred day simple moving average of $225.00.

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 net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. The business’s revenue was up 78.8% on a year-over-year basis. Research analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COIN shares. Bank of America raised their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Mizuho increased their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $276.22.

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.