Coinbase Global, Inc. (NASDAQ:COIN) Holdings Boosted by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,185 shares of the cryptocurrency exchange’s stock after acquiring an additional 43 shares during the period. Empowered Funds LLC’s holdings in Coinbase Global were worth $924,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COIN. APEIRON CAPITAL Ltd bought a new position in Coinbase Global in the first quarter worth about $108,434,000. UniSuper Management Pty Ltd raised its holdings in shares of Coinbase Global by 108.3% during the first quarter. UniSuper Management Pty Ltd now owns 2,500 shares of the cryptocurrency exchange’s stock valued at $663,000 after buying an additional 1,300 shares during the last quarter. BOKF NA raised its holdings in shares of Coinbase Global by 9,906.9% during the first quarter. BOKF NA now owns 2,902 shares of the cryptocurrency exchange’s stock valued at $732,000 after buying an additional 2,873 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Coinbase Global by 5.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 18,599 shares of the cryptocurrency exchange’s stock valued at $4,931,000 after buying an additional 955 shares during the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of Coinbase Global by 5.0% during the first quarter. SVB Wealth LLC now owns 29,801 shares of the cryptocurrency exchange’s stock valued at $7,901,000 after buying an additional 1,416 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.2 %

NASDAQ COIN opened at $304.64 on Friday. Coinbase Global, Inc. has a twelve month low of $107.98 and a twelve month high of $341.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. The firm’s 50 day moving average price is $214.20 and its two-hundred day moving average price is $215.15.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Insider Activity

In other news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 194,091 shares of company stock worth $50,033,426 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Mizuho lifted their price target 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 boosted their target price on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $251.00.

Coinbase Global Company 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.