Prospera Financial Services Inc Acquires 68 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Prospera Financial Services Inc raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,979 shares of the cryptocurrency exchange’s stock after acquiring an additional 68 shares during the quarter. Prospera Financial Services Inc’s holdings in Coinbase Global were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after acquiring an additional 51 shares in the last quarter. Fifth Third Bancorp grew its position in Coinbase Global by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after acquiring an additional 55 shares during the last quarter. Versant Capital Management Inc increased its holdings in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after purchasing an additional 57 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Compass Point decreased their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Piper Sandler restated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. Finally, Needham & Company LLC raised their target price on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $251.00.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Friday, August 30th. The shares were sold at an average price of $188.94, for a total value of $283,410.00. Following the completion of the sale, the chief operating officer now owns 197,101 shares of the company’s stock, valued at approximately $37,240,262.94. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This trade represents a 97.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,129 shares of company stock worth $46,522,970 in the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $304.64 on Monday. The firm has a 50 day moving average of $214.20 and a 200-day moving average of $215.18. The company has a market cap of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $107.98 and a 52 week high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

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.