Ribbit Management Company LLC Purchases 17,650 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Ribbit Management Company LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394,100 shares of the cryptocurrency exchange’s stock after purchasing an additional 17,650 shares during the quarter. Coinbase Global comprises about 4.7% of Ribbit Management Company LLC’s investment portfolio, making the stock its 4th largest holding. Ribbit Management Company LLC owned 0.16% of Coinbase Global worth $70,217,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC lifted its stake in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global during the second quarter valued at about $29,000. Versant Capital Management Inc boosted its stake 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 purchasing an additional 57 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $32,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Barclays boosted their price objective on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Compass Point decreased their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt began coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.22.

Coinbase Global Stock Performance

Shares of COIN stock opened at $310.98 on Thursday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $341.75. The firm’s 50 day moving average is $219.83 and its 200 day moving average is $216.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34.

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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company earned ($0.01) EPS. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at approximately $52,972,696.56. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,219 shares of company stock valued at $65,593,121 in the last 90 days. 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.