Raymond James Financial Services Advisors Inc. raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) by 6.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 35,188 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,144 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Coinbase Global were worth $2,269,000 at the end of the most recent reporting period.
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A number of other institutional investors have also added to or reduced their stakes in COIN. Fairfield Bush & CO. increased its position in Coinbase Global by 18.4% during the 1st quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after purchasing an additional 275 shares during the period. United Bank bought a new stake in shares of Coinbase Global in the 1st quarter valued at about $286,000. Bank of New York Mellon Corp boosted its holdings in shares of Coinbase Global by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock valued at $13,394,000 after buying an additional 1,844 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Coinbase Global by 269.2% in the 1st quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after buying an additional 5,211 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Coinbase Global by 26.6% in the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 46.41% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Compass Point lowered their price target on shares of Coinbase Global from $95.00 to $75.00 in a report on Wednesday, October 26th. Jefferies Financial Group assumed coverage on shares of Coinbase Global in a research note on Monday, January 9th. They issued a “hold” rating and a $35.00 target price for the company. DA Davidson lowered their target price on shares of Coinbase Global from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, January 11th. JPMorgan Chase & Co. lifted their target price on shares of Coinbase Global from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $41.00 to $30.00 and set a “sell” rating for the company in a research note on Monday, January 9th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.29.
Insider Buying and Selling
In other news, Director Tobias Lutke bought 9,668 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The shares were purchased at an average cost of $37.76 per share, for a total transaction of $365,063.68. Following the completion of the purchase, the director now owns 183,836 shares of the company’s stock, valued at $6,941,647.36. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Coinbase Global news, CFO Alesia J. Haas sold 103,859 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $42.44, for a total value of $4,407,775.96. Following the transaction, the chief financial officer now directly owns 92,317 shares in the company, valued at $3,917,933.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tobias Lutke purchased 9,668 shares of the company’s stock in a transaction on Tuesday, January 10th. The stock was bought at an average price of $37.76 per share, for a total transaction of $365,063.68. Following the completion of the purchase, the director now directly owns 183,836 shares of the company’s stock, valued at $6,941,647.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 101,543 shares of company stock worth $4,498,300 and have sold 471,048 shares worth $19,341,757. Insiders own 36.10% of the company’s stock.
Coinbase Global Stock Up 5.1 %
Shares of NASDAQ:COIN opened at $49.98 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $11.34 billion, a PE ratio of -8.23 and a beta of 2.16. The firm’s 50-day moving average is $42.19 and its two-hundred day moving average is $59.34. Coinbase Global, Inc. has a 1 year low of $31.55 and a 1 year high of $232.00.
Coinbase Global (NASDAQ:COIN – Get Rating) last released its earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. The firm had revenue of $590.34 million for the quarter, compared to analysts’ expectations of $642.76 million. Analysts predict that Coinbase Global, Inc. will post -11.7 EPS for the current year.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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