Vishria Bird Financial Group LLC Has $513,000 Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Vishria Bird Financial Group LLC grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 55.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,882 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,032 shares during the quarter. Vishria Bird Financial Group LLC’s holdings in Coinbase Global were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crewe Advisors LLC increased its holdings in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory purchased a new position in Coinbase Global in the second quarter worth $29,000. Versant Capital Management Inc boosted its position in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Coinbase Global in the third quarter worth $32,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Coinbase Global during the 2nd quarter valued at $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Up 9.7 %

Shares of NASDAQ:COIN opened at $305.85 on Friday. The stock has a fifty day simple moving average of $198.72 and a two-hundred day simple moving average of $211.83. The stock has a market capitalization of $76.57 billion, a price-to-earnings 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. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Needham & Company LLC increased their price objective on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $246.28.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now directly owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,822 shares of company stock worth $30,921,194 over the last quarter. 23.43% of the stock is currently owned by insiders.

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.