Brooklyn Investment Group Increases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Brooklyn Investment Group boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,760 shares of the cryptocurrency exchange’s stock after purchasing an additional 66 shares during the quarter. Brooklyn Investment Group’s holdings in Coinbase Global were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares in the last quarter. Cowen AND Company LLC raised its stake in Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after buying an additional 22,071 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Coinbase Global by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after acquiring an additional 52,856 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. HC Wainwright restated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $255.22.

Coinbase Global Trading Down 6.1 %

Shares of COIN stock opened at $293.29 on Wednesday. The stock has a 50 day simple moving average of $217.21 and a 200-day simple moving average of $215.90. Coinbase Global, Inc. has a 1-year low of $112.18 and a 1-year high of $341.75. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 50.05 and a beta of 3.34. 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 (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS 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 last year, the firm posted ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares in the company, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,966 shares of company stock worth $47,064,922. 23.43% of the stock is owned by insiders.

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.