Planning Directions Inc. Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Planning Directions Inc. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,135 shares of the cryptocurrency exchange’s stock, valued at approximately $380,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Longitude Cayman Ltd. grew its stake in shares of Coinbase Global by 50.0% during the 3rd quarter. Longitude Cayman Ltd. now owns 6,000 shares of the cryptocurrency exchange’s stock worth $1,069,000 after acquiring an additional 2,000 shares in the last quarter. River Street Advisors LLC increased its stake in Coinbase Global by 53.3% in the 3rd quarter. River Street Advisors LLC now owns 1,395 shares of the cryptocurrency exchange’s stock valued at $249,000 after buying an additional 485 shares during the last quarter. Vishria Bird Financial Group LLC increased its stake in Coinbase Global by 55.8% in the 3rd quarter. Vishria Bird Financial Group LLC now owns 2,882 shares of the cryptocurrency exchange’s stock valued at $513,000 after buying an additional 1,032 shares during the last quarter. Empowered Funds LLC lifted its position in Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after buying an additional 43 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its stake in shares of Coinbase Global by 1.3% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 6,216 shares of the cryptocurrency exchange’s stock worth $1,108,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $91,487.18. This trade represents a 97.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,822 shares of company stock valued at $30,921,194 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $305.85 on Monday. Coinbase Global, Inc. has a 52 week low of $94.45 and a 52 week high of $334.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day simple moving average is $198.72 and its 200 day simple moving average is $211.90. The firm has a market cap of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. Barclays raised their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $246.28.

Check Out Our Latest Stock Analysis on Coinbase Global

Coinbase Global Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINFree Report).

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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