Longitude Cayman Ltd. Acquires 2,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Longitude Cayman Ltd. raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 50.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the cryptocurrency exchange's stock after purchasing an additional 2,000 shares during the quarter. Coinbase Global accounts for about 0.3% of Longitude Cayman Ltd.'s holdings, making the stock its 28th biggest position. Longitude Cayman Ltd.'s holdings in Coinbase Global were worth $1,069,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in COIN. Crewe Advisors LLC increased its holdings in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock worth $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Coinbase Global during the second quarter worth about $29,000. Versant Capital Management Inc lifted its position 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 purchasing an additional 57 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Coinbase Global during the third quarter worth about $32,000. Finally, Spirit of America Management Corp NY acquired a new stake in Coinbase Global during the second quarter worth about $33,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on COIN. Compass Point dropped their price target on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Barclays increased their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Monness Crespi & Hardt began coverage on Coinbase Global in a research report on Monday, October 28th. They set a "buy" rating and a $245.00 target price on the stock. JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Needham & Company LLC increased their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $251.00.

Coinbase Global Trading Up 6.4 %

Shares of NASDAQ:COIN traded up $19.56 during trading on Monday, hitting $325.41. 25,629,448 shares of the company's stock were exchanged, compared to its average volume of 11,041,122. The firm has a market cap of $81.47 billion, a P/E ratio of 55.53 and a beta of 3.34. The firm has a 50-day moving average price of $202.13 and a two-hundred day moving average price of $212.58. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1-year low of $100.01 and a 1-year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for 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%. The firm's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. Equities analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. The trade was a 20.01 % 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 hyperlink. Also, insider Paul Grewal sold 16,962 shares of the company'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 transaction, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,822 shares of company stock valued at $30,921,194. 23.43% of the stock is currently owned by corporate insiders.

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.