Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,030 shares of the cryptocurrency exchange’s stock after buying an additional 2,392 shares during the quarter. IHT Wealth Management LLC’s holdings in Coinbase Global were worth $1,569,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of COIN. Banco Santander S.A. raised its stake in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Coinbase Global by 135.1% during the third 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 last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the third quarter worth about $29,756,000. Lindbrook Capital LLC lifted 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 valued at $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $2,908,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 264,606 shares of company stock worth $77,554,992 in the last quarter. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Down 3.1 %

Shares of NASDAQ COIN opened at $320.57 on Friday. The stock has a market capitalization of $80.25 billion, a price-to-earnings ratio of 54.70 and a beta of 3.57. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.49. The firm has a 50-day moving average price of $236.84 and a 200 day moving average price of $220.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

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 analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. Equities research analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on COIN. 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. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Oppenheimer lifted their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Mizuho increased their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note 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 has an average rating of “Hold” and an average target price of $265.33.

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.