Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 110.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 198,788 shares of the cryptocurrency exchange’s stock after buying an additional 104,292 shares during the quarter. Van ECK Associates Corp’s holdings in Coinbase Global were worth $35,418,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Coinbase Global by 547.4% in the 2nd 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 purchased a new position in Coinbase Global during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc increased its position 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 buying an additional 57 shares during the period. Finally, Spirit of America Management Corp NY purchased a new stake in Coinbase Global in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

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 transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,187 shares of company stock worth $15,213,544 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on COIN. HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Monness Crespi & Hardt began coverage on Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. Finally, Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One equities 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, the company currently has a consensus rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Trading Up 1.9 %

Shares of Coinbase Global stock opened at $186.27 on Tuesday. The company has a 50-day moving average of $180.63 and a two-hundred day moving average of $208.40. Coinbase Global, Inc. has a 12-month low of $84.09 and a 12-month high of $283.48. 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 stock has a market cap of $46.28 billion, a PE ratio of 31.79 and a beta of 3.33.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for 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 prior year, the firm posted ($0.01) earnings per share. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.02 EPS for the current fiscal year.

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.