Investment Management Corp of Ontario Purchases 2,200 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Investment Management Corp of Ontario boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 53.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,331 shares of the cryptocurrency exchange’s stock after buying an additional 2,200 shares during the period. Investment Management Corp of Ontario’s holdings in Coinbase Global were worth $1,128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter worth about $25,000. Crewe Advisors LLC boosted its position 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 worth $27,000 after acquiring an additional 104 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Coinbase Global during the third quarter valued at $32,000. Spirit of America Management Corp NY bought a new stake in Coinbase Global in the 2nd quarter valued at $33,000. Finally, Continuum Advisory LLC lifted its stake in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 3.1 %

Shares of NASDAQ COIN opened at $320.57 on Friday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.49. The firm has a market capitalization of $80.25 billion, a price-to-earnings ratio of 54.70 and a beta of 3.57. The stock has a 50 day moving average price of $236.84 and a 200 day moving average price of $220.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. Sell-side analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays lifted 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. Oppenheimer increased their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target on the stock. Mizuho lifted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $265.33.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $3,209,894.38. This represents a 71.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 264,606 shares of company stock valued at $77,554,992. Company insiders own 23.43% of the company’s stock.

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.