Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 55.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,422 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,658 shares during the period. SteelPeak Wealth LLC’s holdings in Coinbase Global were worth $1,322,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COIN. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Crewe Advisors LLC raised its stake in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global during the second quarter valued at about $29,000. Versant Capital Management Inc grew its position in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in Coinbase Global during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 3.6 %

Shares of NASDAQ COIN opened at $211.74 on Thursday. The firm has a market capitalization of $52.61 billion, a PE ratio of 38.01 and a beta of 3.35. Coinbase Global, Inc. has a one year low of $73.56 and a one year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $181.94 and a two-hundred day moving average price of $209.22.

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

Analyst Ratings Changes

Several equities research analysts recently commented on COIN shares. The Goldman Sachs Group dropped their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $242.94.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the sale, the insider now owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,687 shares of company stock valued at $14,908,594. 23.43% of the stock is owned by insiders.

About Coinbase Global

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.