Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,265 shares of the cryptocurrency exchange’s stock after acquiring an additional 7,597 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Coinbase Global were worth $22,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $409,919,000. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Azora Capital LP lifted its holdings in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new stake in Coinbase Global during the 3rd quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global in the 3rd quarter valued at $29,756,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COIN. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Bank of America upped their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $282.83.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were 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 approximately $35,598,033.30. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated 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 owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,489 shares of company stock valued at $109,624,297. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $305.34 on Friday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $290.70 and a 200 day moving average price of $233.19. The company has a market cap of $76.44 billion, a P/E ratio of 51.80 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last announced its earnings results 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). The business had revenue of $1.21 billion for 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%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

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.