Hancock Whitney Corp Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Hancock Whitney Corp raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,466 shares of the cryptocurrency exchange’s stock after acquiring an additional 201 shares during the quarter. Hancock Whitney Corp’s holdings in Coinbase Global were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC grew its holdings 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 purchasing an additional 104 shares during the period. Lynx Investment Advisory bought a new position in shares of Coinbase Global during the 2nd quarter worth $29,000. Versant Capital Management Inc grew its stake in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the period. Spirit of America Management Corp NY purchased a new stake in Coinbase Global in the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC raised its stake in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 150 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Down 6.1 %

Shares of COIN opened at $293.29 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $112.18 and a fifty-two week high of $341.75. The firm has a market cap of $73.43 billion, a price-to-earnings ratio of 50.05 and a beta of 3.34. The firm has a 50 day moving average price of $217.21 and a 200-day moving average price of $215.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Mizuho raised their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Oppenheimer lifted their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday. Compass Point dropped their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $255.22.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $188.94, for a total transaction of $283,410.00. Following the completion of the sale, the chief operating officer now directly owns 197,101 shares in the company, valued at approximately $37,240,262.94. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,966 shares of company stock valued at $47,064,922 in the last ninety days. Company insiders own 23.43% of the company’s stock.

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.