Brown Brothers Harriman & Co. Acquires 204 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Brown Brothers Harriman & Co. increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 408.0% in the third quarter, Holdings Channel.com reports. The firm owned 254 shares of the cryptocurrency exchange’s stock after purchasing an additional 204 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Coinbase Global were worth $45,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of 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 acquiring an additional 691,288 shares in the last quarter. American Century Companies Inc. increased its holdings in 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 worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $29,756,000. International Assets Investment Management LLC bought a new stake in shares of Coinbase Global in the third quarter valued at about $26,665,000. Finally, Banco Santander S.A. bought a new position in shares of Coinbase Global during the second quarter worth about $29,372,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. Oppenheimer boosted their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, Compass Point lowered 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. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $255.22.

Check Out Our Latest Report on COIN

Insider Activity

In related news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the transaction, the chief operating officer now directly owns 189,101 shares in the company, valued at approximately $33,298,795.09. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,719 shares of company stock valued at $65,309,711. 23.43% of the stock is owned by insiders.

Coinbase Global Price Performance

NASDAQ:COIN opened at $310.98 on Friday. The company has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. The firm’s fifty day moving average price is $222.79 and its two-hundred day moving average price is $217.21. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. Equities analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Coinbase Global Profile

(Free Report)

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.

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Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINFree Report).

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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