Crescent Grove Advisors LLC Acquires Shares of 1,158 Coinbase Global, Inc. (NASDAQ:COIN)

Crescent Grove Advisors LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,158 shares of the cryptocurrency exchange’s stock, valued at approximately $206,000.

A number of other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC boosted its position in Coinbase Global by 135.1% in the third 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 in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Coinbase Global in the second quarter valued at approximately $2,908,000. Intech Investment Management LLC boosted its holdings in shares of Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after acquiring an additional 33,240 shares in the last quarter. QRG Capital Management Inc. grew its position in Coinbase Global by 130.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Blue Trust Inc. raised 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 purchasing an additional 4,127 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at $35,598,033.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,187 shares of company stock valued at $15,213,544 over the last 90 days. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Up 31.1 %

Shares of NASDAQ:COIN opened at $254.31 on Thursday. The company has a 50 day moving average price of $180.54 and a two-hundred day moving average price of $208.28. 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 company has a market capitalization of $63.19 billion, a PE ratio of 43.40 and a beta of 3.34. Coinbase Global, Inc. has a 52 week low of $84.30 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during 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%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on COIN shares. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. One equities research 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, Coinbase Global currently has an average rating of “Hold” and an average target price of $246.28.

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.