Prime Capital Investment Advisors LLC Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Prime Capital Investment Advisors LLC increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,307 shares of the cryptocurrency exchange’s stock after buying an additional 107 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Coinbase Global were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COIN. Global Retirement Partners LLC raised its holdings in shares of Coinbase Global by 135.1% in the 3rd 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. Lindbrook Capital LLC raised its holdings in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Coinbase Global in the 2nd quarter worth about $2,908,000. QRG Capital Management Inc. raised its holdings in shares of Coinbase Global by 237.5% in the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after purchasing an additional 23,040 shares during the period. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Coinbase Global by 51.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 5,055 shares of the cryptocurrency exchange’s stock worth $901,000 after purchasing an additional 1,716 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 9.7 %

Shares of Coinbase Global stock opened at $305.85 on Monday. The business’s fifty day moving average price is $198.72 and its two-hundred day moving average price is $211.90. 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 company has a market capitalization of $76.57 billion, a P/E ratio of 52.19 and a beta of 3.34. Coinbase Global, Inc. has a 1-year low of $94.45 and a 1-year high of $334.86.

Coinbase Global (NASDAQ:COIN) last announced 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). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Mizuho raised their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC raised their target price on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One research 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 MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $246.28.

Insider Transactions at Coinbase Global

In related news, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. The trade was a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick R. Wilson sold 40,000 shares of Coinbase Global stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at $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 90 days, insiders have sold 135,822 shares of company stock valued at $30,921,194. Corporate insiders own 23.43% of the company’s stock.

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.