Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Caprock Group LLC

Caprock Group LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 43.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,513 shares of the cryptocurrency exchange's stock after acquiring an additional 4,965 shares during the period. Caprock Group LLC's holdings in Coinbase Global were worth $2,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Crewe Advisors LLC boosted its holdings in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Coinbase Global during the 2nd quarter valued at $29,000. Versant Capital Management Inc grew its holdings 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 acquiring an additional 57 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global in the third quarter worth $32,000. Finally, Spirit of America Management Corp NY purchased a new stake in Coinbase Global during the second quarter valued at $33,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

COIN stock traded down $4.56 during mid-day trading on Wednesday, reaching $320.01. The company's stock had a trading volume of 22,816,793 shares, compared to its average volume of 11,104,324. The company's 50 day moving average is $208.71 and its two-hundred day moving average is $214.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $80.11 billion, a PE ratio of 54.61 and a beta of 3.34. Coinbase Global, Inc. has a fifty-two week low of $101.34 and a fifty-two week high of $341.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results 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 net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. Coinbase Global's revenue for the quarter was up 78.8% compared to the same quarter last year. Equities research analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analysts Set New Price Targets

COIN has been the topic of a number of research reports. Mizuho raised their price objective 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. Bank of America boosted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Barclays raised their price objective on Coinbase Global from $175.00 to $204.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Citigroup upgraded Coinbase Global from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. One equities research 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, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $251.00.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $172,528. The trade was a 99.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,091 shares of company stock worth $50,033,426. Insiders own 23.43% of the company's stock.

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.