Vishria Bird Financial Group LLC Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Vishria Bird Financial Group LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 55.8% during the third quarter, HoldingsChannel reports. The firm owned 2,882 shares of the cryptocurrency exchange’s stock after buying an additional 1,032 shares during the quarter. Vishria Bird Financial Group LLC’s holdings in Coinbase Global were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC raised its stake in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after buying an additional 486,512 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the last quarter. Finally, APEIRON CAPITAL Ltd purchased a new position in shares of Coinbase Global during the 1st quarter valued at about $108,434,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the transaction, the chief operating officer now directly owns 197,101 shares of the company’s stock, valued at $37,240,262.94. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,822 shares of company stock worth $30,921,194 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $305.85 on Friday. 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 has a fifty day moving average price of $198.72 and a 200 day moving average price of $211.83. The company has a market cap of $76.57 billion, a P/E ratio of 52.19 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $94.45 and a 12 month high of $334.86.

Coinbase Global (NASDAQ:COIN) last released 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 analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. The business’s revenue was up 78.8% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of analyst reports. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Piper Sandler restated a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. 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. Finally, Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. One 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, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $246.28.

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.