River Street Advisors LLC Buys 485 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

River Street Advisors LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 53.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,395 shares of the cryptocurrency exchange’s stock after purchasing an additional 485 shares during the quarter. River Street Advisors LLC’s holdings in Coinbase Global were worth $249,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after acquiring an additional 71,398 shares in the last quarter. Cowen AND Company LLC grew its stake in shares of Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $15,000,000. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,822 shares of company stock worth $30,921,194 over the last quarter. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Trading Up 9.7 %

COIN stock traded up $27.01 during midday trading on Friday, hitting $305.85. The stock had a trading volume of 18,020,587 shares, compared to its average volume of 10,975,321. The firm has a market cap of $76.57 billion, a P/E ratio of 52.19 and a beta of 3.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1-year low of $94.45 and a 1-year high of $334.86. The business has a fifty day moving average price of $198.72 and a two-hundred day moving average price of $211.83.

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

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.