Plato Investment Management Ltd Increases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Plato Investment Management Ltd lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 33.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,446 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,122 shares during the period. Plato Investment Management Ltd’s holdings in Coinbase Global were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% in the 2nd 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 acquired a new stake in Coinbase Global in the 2nd quarter worth about $29,000. Versant Capital Management Inc boosted its holdings in Coinbase Global by 75.0% in the 2nd 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. Spirit of America Management Corp NY acquired a new stake in Coinbase Global in the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC boosted its holdings in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the sale, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,822 shares of company stock valued at $30,921,194 over the last quarter. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Down 2.1 %

Shares of NASDAQ COIN opened at $278.84 on Friday. The firm has a market cap of $69.81 billion, a price-to-earnings ratio of 47.58 and a beta of 3.34. 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 52-week low of $93.07 and a 52-week high of $334.86. The business’s 50 day moving average is $195.55 and its two-hundred day moving average is $211.23.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. Research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their target price on Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Compass Point lowered their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Barclays boosted their target price on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. One equities 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, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $246.28.

Coinbase Global 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.