Integrated Investment Consultants LLC Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Integrated Investment Consultants LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 112,920 shares of the cryptocurrency exchange's stock, valued at approximately $20,119,000. Coinbase Global accounts for 0.5% of Integrated Investment Consultants LLC's investment portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC raised its stake in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock worth $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory bought a new position in shares of Coinbase Global in the second quarter worth approximately $29,000. Versant Capital Management Inc increased its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock worth $30,000 after purchasing an additional 57 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $32,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Coinbase Global during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated 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 in the company, valued at $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company's stock, valued at approximately $30,436,386.24. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 194,091 shares of company stock worth $50,033,426 in the last three months. Corporate insiders own 23.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COIN. HC Wainwright reiterated a "buy" rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Compass Point decreased their target price on Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Barclays boosted their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $251.00.

Coinbase Global Trading Down 7.6 %

Shares of NASDAQ COIN traded down $24.22 during trading hours on Thursday, reaching $295.79. The stock had a trading volume of 22,132,056 shares, compared to its average volume of 11,166,753. The business's fifty day moving average price is $208.71 and its two-hundred day moving average price is $214.04. The firm has a market cap of $74.05 billion, a price-to-earnings ratio of 50.32 and a beta of 3.34. Coinbase Global, Inc. has a 52-week low of $103.36 and a 52-week high of $341.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global's quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. Analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

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.