Polianta Ltd Invests $873,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Polianta Ltd acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,900 shares of the cryptocurrency exchange’s stock, valued at approximately $873,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the period. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. purchased a new stake in Coinbase Global in the first quarter worth about $32,000. Crewe Advisors LLC raised its stake in shares of 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 buying an additional 104 shares during the period. Finally, Lynx Investment Advisory purchased a new position in shares of Coinbase Global during the 2nd quarter valued at about $29,000. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on COIN. Bank of America decreased their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. HC Wainwright lowered their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Barclays lifted their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $246.44.

Coinbase Global Trading Up 7.4 %

COIN stock opened at $176.38 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a twelve month low of $70.42 and a twelve month high of $283.48. The stock has a market capitalization of $43.83 billion, a price-to-earnings ratio of 31.67 and a beta of 3.35. The firm’s fifty day simple moving average is $178.63 and its two-hundred day simple moving average is $212.93.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $179.69, for a total transaction of $269,535.00. Following the completion of the transaction, the chief operating officer now owns 186,101 shares in the company, valued at approximately $33,440,488.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $179.69, for a total value of $269,535.00. Following the sale, the chief operating officer now owns 186,101 shares in the company, valued at $33,440,488.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,037 shares of company stock valued at $14,136,915 over the last quarter. 23.43% of the stock is currently 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.