SteelPeak Wealth LLC Has $1.32 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

SteelPeak Wealth LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 55.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,422 shares of the cryptocurrency exchange’s stock after buying an additional 2,658 shares during the period. SteelPeak Wealth LLC’s holdings in Coinbase Global were worth $1,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC lifted its position in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares during the period. Sanctuary Advisors LLC acquired a new stake in Coinbase Global during the second quarter worth $2,908,000. Intech Investment Management LLC increased its holdings in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after buying an additional 33,240 shares during the period. QRG Capital Management Inc. raised its stake in shares of Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after buying an additional 5,493 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Coinbase Global by 122.2% during the 3rd quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock worth $1,337,000 after acquiring an additional 4,127 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. The Goldman Sachs Group dropped 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 report on Thursday, July 11th. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Bank of America decreased their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $242.94.

Coinbase Global Stock Down 3.6 %

Shares of NASDAQ:COIN opened at $211.74 on Thursday. The company has a 50 day moving average price of $181.94 and a two-hundred day moving average price of $209.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $52.61 billion, a PE ratio of 38.01 and a beta of 3.35. Coinbase Global, Inc. has a 52 week low of $73.56 and a 52 week high of $283.48.

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

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,687 shares of company stock worth $14,908,594 over the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Company 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.