Versant Capital Management Inc Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Versant Capital Management Inc grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 106.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298 shares of the cryptocurrency exchange’s stock after acquiring an additional 154 shares during the period. Versant Capital Management Inc’s holdings in Coinbase Global were worth $74,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased 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 worth $570,341,000 after buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the third quarter valued at $409,919,000. Cowen AND Company LLC boosted its stake in Coinbase Global by 1.5% during the 2nd 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 during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 5.2 %

NASDAQ:COIN opened at $270.65 on Monday. The stock has a market cap of $67.76 billion, a price-to-earnings ratio of 46.19 and a beta of 3.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The business has a fifty day moving average of $280.83 and a 200-day moving average of $228.15.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 78.8% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Piper Sandler reiterated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $286.22.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,641 shares of company stock worth $80,937,273 over the last quarter. 23.43% of the stock is currently owned by company 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.