Blueshift Asset Management LLC Buys 16,998 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Blueshift Asset Management LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 916.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,852 shares of the cryptocurrency exchange's stock after buying an additional 16,998 shares during the quarter. Coinbase Global comprises about 0.8% of Blueshift Asset Management LLC's investment portfolio, making the stock its 15th largest holding. Blueshift Asset Management LLC's holdings in Coinbase Global were worth $3,359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC grew its stake in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Coinbase Global in the second quarter worth $29,000. Versant Capital Management Inc lifted its stake in shares of 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. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $32,000. Finally, Spirit of America Management Corp NY acquired a new stake in Coinbase Global during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Down 6.1 %

COIN stock opened at $293.29 on Wednesday. Coinbase Global, Inc. has a one year low of $112.18 and a one year high of $341.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $217.21 and a 200-day moving average of $215.90. The stock has a market capitalization of $73.43 billion, a PE ratio of 50.05 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business 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 company's revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. As a group, analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COIN. Piper Sandler reissued a "neutral" rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a "buy" rating and a $245.00 price objective for the company. Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Canaccord Genuity Group restated a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an "outperform" rating in a research report on Monday. One investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $255.22.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,966 shares of company stock worth $47,064,922. 23.43% of the stock is owned by company insiders.

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.

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