Planning Directions Inc. Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Planning Directions Inc. purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,135 shares of the cryptocurrency exchange’s stock, valued at approximately $380,000.

A number of other institutional investors have also made changes to their positions in the business. APEIRON CAPITAL Ltd acquired a new stake in Coinbase Global in the 1st quarter valued at approximately $108,434,000. Sei Investments Co. increased its position in Coinbase Global by 41.7% during the first quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock worth $2,629,000 after acquiring an additional 2,920 shares during the period. Russell Investments Group Ltd. raised its stake in Coinbase Global by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock valued at $6,138,000 after purchasing an additional 5,189 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Coinbase Global in the 1st quarter valued at $394,000. Finally, Orion Portfolio Solutions LLC grew its position in Coinbase Global by 80.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange’s stock worth $1,157,000 after purchasing an additional 1,941 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 9.7 %

COIN opened at $305.85 on Monday. The firm has a 50 day simple moving average of $198.72 and a 200 day simple moving average of $211.90. Coinbase Global, Inc. has a fifty-two week low of $94.45 and a fifty-two week high of $334.86. The company has a market cap of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34. 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:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Compass Point reduced their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Needham & Company LLC lifted their price target on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $246.28.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,822 shares of company stock worth $30,921,194. Insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.