Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,760 shares of the cryptocurrency exchange’s stock after acquiring an additional 66 shares during the period. Brooklyn Investment Group’s holdings in Coinbase Global were worth $314,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in COIN. D.A. Davidson & CO. grew its stake in shares of Coinbase Global by 1.6% in the third quarter. D.A. Davidson & CO. now owns 5,894 shares of the cryptocurrency exchange’s stock valued at $1,050,000 after buying an additional 90 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Coinbase Global by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after purchasing an additional 186 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Coinbase Global by 4.7% in the third quarter. Hancock Whitney Corp now owns 4,466 shares of the cryptocurrency exchange’s stock valued at $796,000 after purchasing an additional 201 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the period. Finally, DRW Securities LLC acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $355,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN stock opened at $293.29 on Wednesday. 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 stock has a market cap of $73.43 billion, a PE ratio of 50.05 and a beta of 3.34. Coinbase Global, Inc. has a 1 year low of $112.18 and a 1 year high of $341.75. The stock has a fifty day moving average price of $217.21 and a 200 day moving average price of $215.90.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the subject of several recent research reports. Needham & Company LLC raised their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 18th. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $255.22.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $91,487.18. This represents a 97.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,966 shares of company stock valued at $47,064,922. Corporate insiders own 23.43% of the company’s stock.

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.