Quest Partners LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Quest Partners LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 2,155.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,698 shares of the cryptocurrency exchange's stock after buying an additional 6,401 shares during the period. Quest Partners LLC's holdings in Coinbase Global were worth $1,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC raised its holdings in 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 buying an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Coinbase Global in the second quarter worth approximately $29,000. Versant Capital Management Inc raised its stake in shares of Coinbase Global by 75.0% in 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 purchased a new position in Coinbase Global during the 3rd quarter worth $32,000. Finally, Spirit of America Management Corp NY bought a new position in shares of Coinbase Global during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and raised their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price target for the company. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a "buy" rating and a $245.00 price objective on the stock. Finally, Piper Sandler reiterated a "neutral" rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $251.00.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the 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 sale, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 194,091 shares of company stock worth $50,033,426 over the last quarter. Insiders own 23.43% of the company's stock.

Coinbase Global Trading Down 1.4 %

Shares of NASDAQ:COIN traded down $4.56 during trading on Wednesday, reaching $320.01. The company's stock had a trading volume of 22,816,793 shares, compared to its average volume of 11,104,324. The stock has a market capitalization of $80.11 billion, a PE ratio of 55.14 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $101.34 and a 12 month high of $341.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm's 50 day simple moving average is $205.45 and its two-hundred day simple moving average is $213.30.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results 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 company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS. On average, research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

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.