2,762 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,762 shares of the cryptocurrency exchange's stock, valued at approximately $686,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted 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 purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange's stock worth $570,341,000 after buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the third quarter valued at $409,919,000. Renaissance Technologies LLC increased its position in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange's stock valued at $163,752,000 after acquiring an additional 52,856 shares during the period. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on COIN shares. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price target for the company. JMP Securities reiterated a "market outperform" rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Monness Crespi & Hardt lifted their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $284.17.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 400 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now directly owns 7,771 shares in the company, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,983 shares of company stock worth $96,198,957 over the last three months. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Trading Down 2.9 %

Coinbase Global stock traded down $7.58 during midday trading on Monday, reaching $251.20. The stock had a trading volume of 6,990,088 shares, compared to its average volume of 7,606,123. The company has a fifty day moving average of $288.55 and a 200 day moving average of $229.90. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week 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 firm has a market cap of $62.89 billion, a price-to-earnings ratio of 42.87 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its 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 company 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 firm's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share 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.