MML Investors Services LLC Has $2.24 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

MML Investors Services LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 47.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,550 shares of the cryptocurrency exchange's stock after purchasing an additional 4,032 shares during the quarter. MML Investors Services LLC's holdings in Coinbase Global were worth $2,236,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Main Management ETF Advisors LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $1,244,000. Orion Portfolio Solutions LLC boosted its stake in Coinbase Global by 28.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,105 shares of the cryptocurrency exchange's stock valued at $1,088,000 after buying an additional 1,347 shares in the last quarter. XTX Topco Ltd grew its position in Coinbase Global by 818.2% in the third quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange's stock valued at $2,346,000 after acquiring an additional 11,733 shares during the period. Vienna Asset Management LLC lifted its holdings in shares of Coinbase Global by 210.0% during the third quarter. Vienna Asset Management LLC now owns 11,132 shares of the cryptocurrency exchange's stock valued at $1,983,000 after acquiring an additional 7,541 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after purchasing an additional 16,363 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insiders Place Their Bets

In related news, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company's stock, valued at $342,223.20. This represents a 61.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 400 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,720 shares of company stock worth $79,787,248 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded down $3.67 on Tuesday, hitting $311.64. The stock had a trading volume of 7,423,888 shares, compared to its average volume of 11,244,773. The stock has a market cap of $78.02 billion, a price-to-earnings ratio of 53.18 and a beta of 3.57. 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, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The business's 50 day moving average is $262.68 and its two-hundred day moving average is $226.09.

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 net margin of 29.76% and a return on equity of 14.81%. The business's quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. Analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COIN shares. Piper Sandler reiterated a "neutral" rating and issued a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Barclays lifted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the company an "outperform" rating in a research note on Monday, November 25th. Needham & Company LLC lifted their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $276.22.

About Coinbase Global

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.