Victory Capital Management Inc. Acquires 4,076 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Victory Capital Management Inc. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,837 shares of the cryptocurrency exchange's stock after buying an additional 4,076 shares during the quarter. Victory Capital Management Inc.'s holdings in Coinbase Global were worth $11,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Crewe Advisors LLC grew its position in Coinbase Global by 547.4% during the second 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 purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at $29,000. Versant Capital Management Inc grew its holdings in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. ORG Wealth Partners LLC bought a new position 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 Coinbase Global in the 2nd quarter worth $33,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 1.4 %

NASDAQ COIN opened at $320.01 on Thursday. Coinbase Global, Inc. has a twelve month low of $101.34 and a twelve month high of $341.75. 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 stock's 50 day moving average is $208.71 and its 200 day moving average is $214.04. The firm has a market capitalization of $80.11 billion, a PE ratio of 54.61 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results 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). 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted ($0.01) EPS. Coinbase Global's revenue for the quarter was up 78.8% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the sale, the director now owns 50,000 shares in the company, valued at approximately $15,000,000. This trade represents a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $91,487.18. This trade represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,091 shares of company stock worth $50,033,426. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of several analyst reports. Barclays upped their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. HC Wainwright restated a "buy" rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Needham & Company LLC lifted their price target on Coinbase Global from $290.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday. Monness Crespi & Hardt started coverage on Coinbase Global in a research report on Monday, October 28th. They issued a "buy" rating and a $245.00 price objective for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $251.00.

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.