CAP Partners LLC Purchases 704 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

CAP Partners LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,191 shares of the cryptocurrency exchange’s stock after buying an additional 704 shares during the period. Coinbase Global comprises 0.8% of CAP Partners LLC’s portfolio, making the stock its 29th largest holding. CAP Partners LLC’s holdings in Coinbase Global were worth $1,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board raised its position 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 acquiring an additional 486,512 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the period. APEIRON CAPITAL Ltd bought a new position in shares of Coinbase Global in the 1st quarter worth $108,434,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the third quarter valued at about $29,756,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $298.53 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $198.72 and a 200 day moving average price of $211.90. The stock has a market capitalization of $74.74 billion, a PE ratio of 52.19 and a beta of 3.34. Coinbase Global, Inc. has a 52 week low of $100.01 and a 52 week high of $334.86.

Coinbase Global (NASDAQ:COIN) last released its 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% compared to the same quarter last year. Analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on COIN shares. Barclays raised 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. Needham & Company LLC lifted their price objective on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. 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 company. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $251.00.

Insider Activity

In related news, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now owns 18,525 shares of the company’s stock, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred 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 in the company, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,822 shares of company stock valued at $30,921,194. 23.43% of the stock is owned by company 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.