Banco Santander S.A. Purchases 16,737 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Banco Santander S.A. raised its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 12.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,906 shares of the cryptocurrency exchange's stock after acquiring an additional 16,737 shares during the quarter. Banco Santander S.A. owned approximately 0.06% of Coinbase Global worth $26,531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COIN. Empowered Funds LLC lifted its position in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after purchasing an additional 43 shares during the period. Creative Financial Designs Inc. ADV increased its stake in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock worth $106,000 after purchasing an additional 51 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Coinbase Global by 0.4% in the second 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 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. Finally, Larson Financial Group LLC increased its stake in shares of Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange's stock worth $118,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In related news, Director Gokul Rajaram sold 400 shares of the company's stock in a transaction dated 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 sale, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $188.94, for a total value of $283,410.00. Following the completion of the sale, the chief operating officer now owns 197,101 shares of the company's stock, valued at $37,240,262.94. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,091 shares of company stock valued at $50,033,426. 23.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on COIN. JMP Securities reiterated a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Piper Sandler restated a "neutral" rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. Canaccord Genuity Group restated a "buy" rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a "buy" rating and a $245.00 price objective for the company. Finally, Needham & Company LLC raised their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the company a "buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and a consensus price target of $251.00.

Coinbase Global Price Performance

COIN stock traded down $24.22 during trading hours on Thursday, hitting $295.79. 22,132,056 shares of the stock traded hands, compared to its average volume of 11,166,753. The stock has a 50-day simple moving average of $211.36 and a 200 day simple moving average of $214.61. Coinbase Global, Inc. has a one year low of $103.36 and a one year high of $341.75. The company has a market cap of $74.05 billion, a P/E ratio of 50.48 and a beta of 3.34. 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 announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business posted ($0.01) earnings per share. The company's revenue was up 78.8% compared to the same quarter last year. Equities analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

About Coinbase Global

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.