Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lifted by Nwam LLC

Nwam LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.8% in the third quarter, Holdings Channel reports. The firm owned 6,868 shares of the cryptocurrency exchange’s stock after buying an additional 314 shares during the period. Nwam LLC’s holdings in Coinbase Global were worth $1,224,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Cowen AND Company LLC boosted its stake in shares of Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after acquiring an additional 52,856 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated 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 of the company’s stock, valued at $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 194,091 shares of company stock worth $50,033,426 in the last quarter. 23.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Needham & Company LLC boosted their price objective on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $251.00.

Coinbase Global Stock Up 3.2 %

NASDAQ COIN opened at $304.64 on Friday. Coinbase Global, Inc. has a 1-year low of $107.98 and a 1-year 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 stock’s 50 day moving average is $214.20 and its two-hundred day moving average is $215.16. The company has a market capitalization of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

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.