Global Retirement Partners LLC Raises Position in Coinbase Global, Inc. (NASDAQ:COIN)

Global Retirement Partners LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 135.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,680 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,540 shares during the period. Global Retirement Partners LLC’s holdings in Coinbase Global were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Salem Investment Counselors Inc. grew its holdings in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after purchasing an additional 114 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Coinbase Global in the 2nd quarter worth $2,908,000. Intech Investment Management LLC increased its position in shares of Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after acquiring an additional 33,240 shares during the period. QRG Capital Management Inc. raised its stake in shares of Coinbase Global by 130.5% during the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Coinbase Global by 93.5% during the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after purchasing an additional 7,148 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 400 shares of Coinbase Global stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Gokul Rajaram sold 400 shares of Coinbase Global stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at $16,784,221.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,187 shares of company stock valued at $15,515,794 over the last 90 days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 2.9 %

COIN stock opened at $213.72 on Tuesday. Coinbase Global, Inc. has a 1-year low of $70.42 and a 1-year high of $283.48. The business has a fifty day moving average price of $180.60 and a 200-day moving average price of $210.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $52.48 billion, a P/E ratio of 42.66 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned ($0.42) EPS. The business’s revenue was up 104.8% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research analyst reports. HC Wainwright reduced their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $246.44.

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.