Intellectus Partners LLC Has $816,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Intellectus Partners LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,580 shares of the cryptocurrency exchange’s stock after buying an additional 850 shares during the quarter. Intellectus Partners LLC’s holdings in Coinbase Global were worth $816,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the 3rd quarter valued at $29,756,000. Plato Investment Management Ltd increased its holdings in shares of Coinbase Global by 33.8% in the third quarter. Plato Investment Management Ltd now owns 4,446 shares of the cryptocurrency exchange’s stock valued at $791,000 after purchasing an additional 1,122 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Coinbase Global by 6.7% in the third quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock valued at $11,552,000 after purchasing an additional 4,076 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in shares of Coinbase Global by 8.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,307 shares of the cryptocurrency exchange’s stock worth $233,000 after buying an additional 107 shares during the period. Finally, Savvy Advisors Inc. acquired a new position in Coinbase Global in the 3rd quarter valued at about $918,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Up 9.7 %

Shares of NASDAQ:COIN opened at $305.85 on Friday. The company has a market capitalization of $76.57 billion, a PE ratio of 52.19 and a beta of 3.34. Coinbase Global, Inc. has a 52-week low of $94.45 and a 52-week high of $334.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $198.72 and a 200-day moving average of $211.83.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. On average, equities analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,822 shares of company stock valued at $30,921,194. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $246.28.

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.