Blue Trust Inc. Acquires 4,127 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Blue Trust Inc. raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 122.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,503 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,127 shares during the period. Blue Trust Inc.’s holdings in Coinbase Global were worth $1,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Crewe Advisors LLC grew its stake in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Coinbase Global in the second quarter worth $29,000. Concord Wealth Partners boosted its stake in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Geneos Wealth Management Inc. increased its stake in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,187 shares of company stock valued at $15,515,794 over the last ninety days. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $220.21 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $283.48. The business has a 50 day moving average price of $180.16 and a 200-day moving average price of $211.43. The firm has a market cap of $54.08 billion, a PE ratio of 43.95 and a beta of 3.35.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on COIN shares. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Barclays raised their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $246.44.

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.