GFG Capital LLC Purchases Shares of 3,722 Coinbase Global, Inc. (NASDAQ:COIN)

GFG Capital LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,722 shares of the cryptocurrency exchange’s stock, valued at approximately $240,000.

Several other institutional investors have also recently modified their holdings of COIN. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Coinbase Global in the second quarter worth about $326,251,000. Renaissance Technologies LLC grew its holdings in Coinbase Global by 304.3% during the second quarter. Renaissance Technologies LLC now owns 4,253,200 shares of the cryptocurrency exchange’s stock worth $199,985,000 after acquiring an additional 3,201,200 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in Coinbase Global by 34.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 6,606,262 shares of the cryptocurrency exchange’s stock worth $312,366,000 after acquiring an additional 1,701,828 shares during the period. Paradigm Operations LP grew its holdings in Coinbase Global by 45.6% during the second quarter. Paradigm Operations LP now owns 3,705,596 shares of the cryptocurrency exchange’s stock worth $174,237,000 after acquiring an additional 1,160,841 shares during the period. Finally, Northern Trust Corp grew its holdings in Coinbase Global by 320.1% during the second quarter. Northern Trust Corp now owns 563,011 shares of the cryptocurrency exchange’s stock worth $26,472,000 after acquiring an additional 428,994 shares during the period. 46.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul Grewal sold 1,818 shares of Coinbase Global stock in a transaction on Friday, November 25th. The stock was sold at an average price of $44.39, for a total value of $80,701.02. Following the completion of the sale, the insider now directly owns 57,242 shares of the company’s stock, valued at $2,540,972.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul Grewal sold 1,818 shares of Coinbase Global stock in a transaction on Friday, November 25th. The stock was sold at an average price of $44.39, for a total value of $80,701.02. Following the completion of the sale, the insider now directly owns 57,242 shares of the company’s stock, valued at $2,540,972.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 103,859 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $42.44, for a total value of $4,407,775.96. Following the transaction, the chief financial officer now directly owns 92,317 shares of the company’s stock, valued at $3,917,933.48. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 103,831 shares of company stock valued at $4,469,855 and sold 589,976 shares valued at $25,635,144. Insiders own 36.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on COIN. Keefe, Bruyette & Woods dropped their target price on Coinbase Global from $37.00 to $32.00 and set an “underperform” rating on the stock in a report on Thursday, January 12th. Cowen lowered Coinbase Global from an “outperform” rating to a “market perform” rating and set a $36.00 price objective on the stock. in a report on Thursday, January 5th. DA Davidson dropped their price objective on Coinbase Global from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, January 11th. Piper Sandler dropped their price objective on Coinbase Global from $100.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Finally, The Goldman Sachs Group decreased their target price on Coinbase Global from $41.00 to $30.00 and set a “sell” rating on the stock in a research report on Monday, January 9th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average target price of $74.04.

Coinbase Global Trading Up 19.2 %

NASDAQ:COIN traded up $12.62 on Thursday, reaching $78.32. The company’s stock had a trading volume of 25,837,908 shares, compared to its average volume of 17,892,932. Coinbase Global, Inc. has a 12-month low of $31.55 and a 12-month high of $217.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $43.63 and a 200 day moving average price of $59.47. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of -12.14 and a beta of 2.70.

Coinbase Global (NASDAQ:COIN – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. The firm had revenue of $590.34 million during the quarter, compared to analyst estimates of $642.76 million. On average, equities analysts anticipate that Coinbase Global, Inc. will post -11.75 EPS for the current fiscal year.

Coinbase Global Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.