Longitude Cayman Ltd. Purchases 2,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Longitude Cayman Ltd. grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 50.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the cryptocurrency exchange’s stock after buying an additional 2,000 shares during the quarter. Coinbase Global accounts for approximately 0.3% of Longitude Cayman Ltd.’s investment portfolio, making the stock its 28th biggest holding. Longitude Cayman Ltd.’s holdings in Coinbase Global were worth $1,069,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. River Street Advisors LLC increased its holdings in Coinbase Global by 53.3% during the third quarter. River Street Advisors LLC now owns 1,395 shares of the cryptocurrency exchange’s stock worth $249,000 after buying an additional 485 shares during the last quarter. Vishria Bird Financial Group LLC increased its position in Coinbase Global by 55.8% in the third quarter. Vishria Bird Financial Group LLC now owns 2,882 shares of the cryptocurrency exchange’s stock worth $513,000 after buying an additional 1,032 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the period. Signature Estate & Investment Advisors LLC grew its stake in shares of Coinbase Global by 1.3% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 6,216 shares of the cryptocurrency exchange’s stock worth $1,108,000 after acquiring an additional 80 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Coinbase Global by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange’s stock worth $1,240,000 after acquiring an additional 367 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 9.7 %

Shares of NASDAQ:COIN opened at $305.85 on Monday. 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. The stock has a fifty day simple moving average of $198.72 and a two-hundred day simple moving average of $211.90. 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 (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 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business earned ($0.01) EPS. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. This represents a 44.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This trade represents a 3.00 % 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 three months. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on COIN shares. Compass Point lowered their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC upped their price target on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.