528 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 528 shares of the cryptocurrency exchange’s stock, valued at approximately $94,000.

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

Coinbase Global Trading Up 1.7 %

Shares of Coinbase Global stock opened at $278.71 on Friday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $269.18 and a 200-day moving average price of $227.12. The firm has a market cap of $69.78 billion, a price-to-earnings ratio of 47.56 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. Equities research analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,720 shares of company stock worth $79,787,248. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Monness Crespi & Hardt upped their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research report on Friday. Barclays boosted their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $286.22.

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.