Charles Schwab Investment Management Inc. Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Charles Schwab Investment Management Inc. grew its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 919,078 shares of the cryptocurrency exchange's stock after buying an additional 52,856 shares during the period. Charles Schwab Investment Management Inc. owned 0.37% of Coinbase Global worth $163,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC grew its position in shares of Coinbase Global by 0.8% in 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 in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock valued at $106,000 after purchasing an additional 51 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Coinbase Global by 0.4% in the 2nd 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 during the last quarter. Versant Capital Management Inc raised its holdings in 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 buying an additional 57 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Coinbase Global by 12.1% during the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange's stock valued at $118,000 after purchasing an additional 57 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company's stock in a transaction on 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 transaction, the chief operating officer now directly owns 197,101 shares in the company, valued at approximately $37,240,262.94. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,129 shares of company stock valued at $46,522,970 in the last three months. Corporate insiders own 23.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COIN shares. Needham & Company LLC increased their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Mizuho lifted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a research note on Thursday, October 31st. Piper Sandler reissued a "neutral" rating and set a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Finally, Barclays increased their target price 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. One equities research 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $255.22.

Coinbase Global Trading Up 2.5 %

Coinbase Global stock traded up $7.58 during trading hours on Monday, reaching $312.22. 14,415,392 shares of the company's stock traded hands, compared to its average volume of 11,173,801. The firm's 50 day moving average is $214.20 and its 200-day moving average is $215.18. Coinbase Global, Inc. has a fifty-two week low of $112.18 and a fifty-two week high of $341.75. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 53.33 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

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 the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global's revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current 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.