Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,140 shares of the cryptocurrency exchange’s stock after buying an additional 518 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Coinbase Global were worth $1,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creative Financial Designs Inc. ADV raised its position in Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the last quarter. Fifth Third Bancorp lifted its stake in Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after buying an additional 55 shares in the last quarter. Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares during the last quarter. Larson Financial Group LLC increased its position in Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after buying an additional 57 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Coinbase Global by 3.1% in the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after acquiring an additional 61 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of analyst reports. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Needham & Company LLC lifted their price target on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $246.28.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 85,822 shares of company stock valued at $16,372,294. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $270.74 on Friday. 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, Inc. has a 1-year low of $88.62 and a 1-year high of $283.48. The firm has a market capitalization of $67.78 billion, a P/E ratio of 46.20 and a beta of 3.34. The business’s 50-day simple moving average is $184.92 and its 200-day simple moving average is $209.05.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 4.27 EPS 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.