Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,837 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,076 shares during the period. Victory Capital Management Inc.’s holdings in Coinbase Global were worth $11,552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC grew its position in Coinbase Global by 8.9% in the third 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 last quarter. Savvy Advisors Inc. acquired a new position in shares of Coinbase Global in the 3rd quarter worth $918,000. Rakuten Securities Inc. raised its position in shares of Coinbase Global by 47.6% during the third quarter. Rakuten Securities Inc. now owns 14,817 shares of the cryptocurrency exchange’s stock worth $2,640,000 after purchasing an additional 4,779 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Coinbase Global in the 3rd quarter worth about $567,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Down 1.4 %

Shares of COIN stock opened at $320.01 on Thursday. Coinbase Global, Inc. has a 12 month low of $101.34 and a 12 month high of $341.75. The firm has a market cap of $80.11 billion, a PE ratio of 54.61 and a beta of 3.34. The stock has a 50 day moving average of $208.71 and a 200-day moving average of $214.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

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%. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on COIN shares. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their target price on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Mizuho lifted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. One 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 data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $251.00.

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,091 shares of company stock worth $50,033,426. 23.43% of the stock is owned by corporate insiders.

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.