Versor Investments LP Has $210,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Versor Investments LP cut its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 66.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,181 shares of the cryptocurrency exchange's stock after selling 2,326 shares during the quarter. Versor Investments LP's holdings in Coinbase Global were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

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

Coinbase Global Price Performance

COIN stock traded up $27.01 during trading on Friday, hitting $305.85. The company had a trading volume of 18,020,587 shares, compared to its average volume of 16,580,128. The firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34. 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 business has a 50 day moving average of $198.72 and a 200 day moving average of $211.89. Coinbase Global, Inc. has a fifty-two week low of $94.45 and a fifty-two week high of $334.86.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business earned ($0.01) earnings per share. The company's revenue was up 78.8% on a year-over-year basis. As a group, research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Activity

In related news, CFO Alesia J. Haas sold 5,250 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 16,962 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,822 shares of company stock worth $30,921,194. 23.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Barclays upped their price objective on Coinbase Global from $175.00 to $204.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Piper Sandler reiterated a "neutral" rating and issued a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. HC Wainwright reissued a "buy" rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 target price for the company. 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 stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of "Hold" and an average price target of $246.28.

Coinbase Global Company 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.