Golden State Equity Partners Has $514,000 Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Golden State Equity Partners grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,883 shares of the cryptocurrency exchange’s stock after buying an additional 69 shares during the period. Golden State Equity Partners’ holdings in Coinbase Global were worth $514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC grew 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 valued at $477,000 after buying an additional 1,540 shares during the period. Sanctuary Advisors LLC bought a new stake in Coinbase Global in the 2nd quarter valued at $2,908,000. Intech Investment Management LLC lifted its position in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after acquiring an additional 33,240 shares in the last quarter. QRG Capital Management Inc. lifted its position in Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after acquiring an additional 5,493 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Coinbase Global by 122.2% in the 3rd quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock valued at $1,337,000 after acquiring an additional 4,127 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the sale, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,687 shares of company stock worth $14,908,594. 23.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on COIN. HC Wainwright reissued a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Barclays boosted their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Bank of America decreased their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $242.94.

Coinbase Global Trading Down 3.6 %

COIN opened at $211.74 on Thursday. Coinbase Global, Inc. has a twelve month low of $73.56 and a twelve month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $181.94 and a 200-day moving average of $209.22. The stock has a market cap of $52.61 billion, a PE ratio of 38.01 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) earnings per share. On average, sell-side analysts predict that Coinbase Global, Inc. will post 3.92 EPS for the current year.

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.