Cerity Partners LLC Has $1.45 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)
A number of other hedge funds have also modified their holdings of the business. Birch Hill Investment Advisors LLC increased its stake in Coinbase Global by 67.6% in the 3rd quarter. Birch Hill Investment Advisors LLC now owns 1,550 shares of the cryptocurrency exchange’s stock valued at $353,000 after buying an additional 625 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Coinbase Global by 45.4% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,767,013 shares of the cryptocurrency exchange’s stock valued at $1,084,400,000 after buying an additional 1,489,311 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Coinbase Global by 451.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,620 shares of the cryptocurrency exchange’s stock valued at $1,288,000 after buying an additional 4,600 shares during the last quarter. Nkcfo LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at $887,000. Finally, Schwarz Dygos Wheeler Investment Advisors LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at $876,000. Hedge funds and other institutional investors own 21.31% of the company’s stock.
Shares of Coinbase Global stock opened at $255.76 on Friday. Coinbase Global, Inc. has a twelve month low of $208.00 and a twelve month high of $429.54. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $302.44 and a two-hundred day simple moving average of $263.58.
Coinbase Global (NASDAQ:COIN) last issued its earnings results on Tuesday, November 9th. The cryptocurrency exchange reported $1.62 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.17). Coinbase Global had a net margin of 49.96% and a return on equity of 89.37%. Analysts predict that Coinbase Global, Inc. will post 14.06 EPS for the current fiscal year.
In related news, insider Surojit Chatterjee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 5th. The shares were sold at an average price of $238.00, for a total transaction of $2,380,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 41,287 shares of the business’s stock in a transaction that occurred on Thursday, September 23rd. The stock was sold at an average price of $239.21, for a total transaction of $9,876,263.27. The disclosure for this sale can be found here. Insiders sold a total of 686,364 shares of company stock valued at $212,519,011 over the last 90 days.
Several brokerages have issued reports on COIN. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $337.00 to $387.00 and gave the company a “buy” rating in a research note on Wednesday, November 10th. Needham & Company LLC started coverage on shares of Coinbase Global in a research report on Tuesday, August 31st. They issued a “buy” rating and a $420.00 price objective for the company. Mizuho reissued a “neutral” rating and issued a $300.00 price objective (up previously from $220.00) on shares of Coinbase Global in a research report on Thursday, October 21st. Piper Sandler lifted their price objective on shares of Coinbase Global from $360.00 to $440.00 and gave the company an “overweight” rating in a research report on Wednesday, November 10th. Finally, Canaccord Genuity lifted their price objective on shares of Coinbase Global from $325.00 to $342.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $378.80.
Coinbase Global Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.
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