Coinbase Global, Inc. (NASDAQ:COIN) Position Increased by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 36.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,524 shares of the cryptocurrency exchange's stock after buying an additional 4,177 shares during the quarter. Janus Henderson Group PLC's holdings in Coinbase Global were worth $2,767,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COIN. Sequoia Financial Advisors LLC lifted its holdings in Coinbase Global by 5.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,492 shares of the cryptocurrency exchange's stock worth $776,000 after buying an additional 178 shares in the last quarter. Diversified Trust Co raised its stake in shares of Coinbase Global by 8.5% in the second quarter. Diversified Trust Co now owns 2,287 shares of the cryptocurrency exchange's stock valued at $508,000 after acquiring an additional 180 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Coinbase Global in the second quarter valued at $333,000. J.Safra Asset Management Corp grew its stake in Coinbase Global by 592.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 180 shares of the cryptocurrency exchange's stock worth $40,000 after purchasing an additional 154 shares in the last quarter. Finally, Windmill Hill Asset Management Ltd acquired a new position in Coinbase Global during the 2nd quarter worth $702,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COIN. Needham & Company LLC lifted their price target on Coinbase Global from $375.00 to $420.00 and gave the stock a "buy" rating in a report on Monday. Oppenheimer boosted their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. Barclays increased their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the company an "equal weight" rating in a research note on Monday. JMP Securities reissued a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. One 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 stock. According to MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $276.22.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. This trade represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the sale, the director now owns 10,417 shares of the company's stock, valued at $3,386,983.38. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 272,220 shares of company stock valued at $80,030,608 in the last 90 days. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of COIN traded down $0.85 during trading hours on Thursday, reaching $312.96. 8,295,912 shares of the company traded hands, compared to its average volume of 11,282,406. The stock has a market capitalization of $78.35 billion, a PE ratio of 53.41 and a beta of 3.56. The stock has a fifty day simple moving average of $254.08 and a 200 day simple moving average of $224.63. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

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 (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business's quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. As a group, research analysts predict that Coinbase Global, Inc. will post 4.44 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.