Janney Montgomery Scott LLC Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Janney Montgomery Scott LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 20.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,634 shares of the cryptocurrency exchange's stock after purchasing an additional 6,466 shares during the period. Janney Montgomery Scott LLC's holdings in Coinbase Global were worth $6,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its position 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 worth $106,000 after purchasing an additional 51 shares in the last quarter. SteelPeak Wealth LLC grew its stake in Coinbase Global by 55.8% during the 3rd quarter. SteelPeak Wealth LLC now owns 7,422 shares of the cryptocurrency exchange's stock worth $1,322,000 after buying an additional 2,658 shares during the last quarter. Golden State Equity Partners increased its position in Coinbase Global by 2.5% during the 3rd quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange's stock valued at $514,000 after buying an additional 69 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Coinbase Global by 16,928.6% in the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange's stock valued at $637,000 after buying an additional 3,555 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in Coinbase Global by 104.4% in the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange's stock worth $351,000 after acquiring an additional 1,005 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 16,962 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company's stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul Grewal sold 16,962 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now owns 18,525 shares of the company's stock, valued at $4,631,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,822 shares of company stock worth $16,372,294. Company insiders own 23.43% of the company's stock.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Citigroup raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and increased their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. HC Wainwright reissued a "buy" rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Needham & Company LLC raised their target price on Coinbase Global from $260.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Mizuho boosted their price target on Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $246.28.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $15.16 on Friday, hitting $270.74. The company's stock had a trading volume of 17,431,714 shares, compared to its average volume of 12,968,342. The company has a market capitalization of $67.78 billion, a price-to-earnings ratio of 46.20 and a beta of 3.34. The firm has a fifty day moving average price of $184.92 and a 200-day moving average price of $209.05. 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, Inc. has a 1 year low of $88.62 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). 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 last year, the firm earned ($0.01) earnings per share. The firm's quarterly revenue was up 78.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share 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.