DRW Securities LLC Purchases Shares of 1,990 Coinbase Global, Inc. (NASDAQ:COIN)

DRW Securities LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,990 shares of the cryptocurrency exchange’s stock, valued at approximately $355,000.

Several other hedge funds have also recently added to or reduced their stakes in COIN. Empowered Funds LLC grew its holdings in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares during the period. Fifth Third Bancorp increased its stake in Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after purchasing an additional 55 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 buying an additional 57 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the sale, the insider now directly owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,966 shares of company stock worth $47,064,922. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN opened at $293.29 on Wednesday. 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 company’s fifty day moving average is $217.21 and its 200-day moving average is $215.90. 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, Inc. has a 12 month low of $112.18 and a 12 month high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COIN. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Needham & Company LLC boosted their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Barclays raised their target price on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Oppenheimer upped 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. Finally, Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.22.

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.