Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,772 shares of the cryptocurrency exchange’s stock after acquiring an additional 402 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Coinbase Global were worth $517,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after acquiring an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the third quarter valued at about $409,919,000. Cowen AND Company LLC increased its stake in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after acquiring an additional 22,071 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on COIN shares. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Oppenheimer upped their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Barclays raised their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $276.22.

Coinbase Global Stock Performance

COIN opened at $310.58 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $256.88 and its 200-day moving average is $225.00. The stock has a market cap of $77.75 billion, a PE ratio of 53.00 and a beta of 3.57. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company 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 revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Activity

In related news, Director Gokul Rajaram sold 400 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the sale, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,720 shares of company stock worth $79,787,248. Corporate insiders own 23.43% of the company’s stock.

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.