Entropy Technologies LP Buys New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Entropy Technologies LP acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,185 shares of the cryptocurrency exchange's stock, valued at approximately $567,000.

A number of other large investors have also modified their holdings of COIN. Crewe Advisors LLC grew its holdings 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 purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Coinbase Global during the second quarter worth about $29,000. Versant Capital Management Inc boosted 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. Spirit of America Management Corp NY acquired a new stake in shares of Coinbase Global during the second quarter worth about $33,000. Finally, Continuum Advisory LLC boosted its stake in shares of Coinbase Global by 3,000.0% during the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COIN shares. Piper Sandler restated a "neutral" rating and issued a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Needham & Company LLC raised their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Barclays raised their price objective 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. Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of "Hold" and an average target price of $246.28.

Insider Activity at Coinbase Global

In other news, Director Frederick R. Wilson sold 40,000 shares of the company'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 completion of the sale, the director now directly owns 50,000 shares of the company's stock, valued at approximately $15,000,000. This represents a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 400 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares of the company's stock, valued at approximately $1,588,703.24. This represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,822 shares of company stock valued at $30,921,194 in the last quarter. Insiders own 23.43% of the company's stock.

Coinbase Global Stock Up 9.7 %

Shares of NASDAQ:COIN traded up $27.01 during midday trading on Friday, hitting $305.85. 17,970,447 shares of the company's stock traded hands, compared to its average volume of 10,975,321. 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 market cap of $76.57 billion, a PE ratio of 52.18 and a beta of 3.34. The firm's fifty day moving average price is $195.55 and its two-hundred day moving average price is $211.23. Coinbase Global, Inc. has a twelve month low of $94.45 and a twelve month high of $334.86.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during 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 business's quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

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.