Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,201,106 shares of the cryptocurrency exchange’s stock after purchasing an additional 71,398 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coinbase Global were worth $570,341,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its stake in Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Coinbase Global by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares in the last quarter. Versant Capital Management Inc lifted its stake in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after purchasing an additional 57 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Coinbase Global by 3.1% in the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 19.8 %

Shares of NASDAQ COIN opened at $324.24 on Tuesday. The business has a fifty day simple moving average of $187.74 and a 200-day simple moving average of $209.65. The company has a market cap of $81.17 billion, a price-to-earnings ratio of 55.33 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $88.62 and a 12 month high of $334.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued 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 during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. Sell-side analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COIN. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research report on Friday, November 1st. Compass Point lowered their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Mizuho lifted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $246.28.

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the sale, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,822 shares of company stock worth $16,372,294 in the last quarter. 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.