Miracle Mile Advisors LLC Has $246,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Miracle Mile Advisors LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 18.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,381 shares of the cryptocurrency exchange’s stock after purchasing an additional 212 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Coinbase Global were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of COIN. Smith Anglin Financial LLC boosted its stake in Coinbase Global by 42.5% in the 3rd quarter. Smith Anglin Financial LLC now owns 2,296 shares of the cryptocurrency exchange’s stock valued at $409,000 after buying an additional 685 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Coinbase Global by 3.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 38,131 shares of the cryptocurrency exchange’s stock valued at $6,794,000 after buying an additional 1,213 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Coinbase Global by 53.5% in the 3rd quarter. Park Avenue Securities LLC now owns 1,913 shares of the cryptocurrency exchange’s stock valued at $341,000 after buying an additional 667 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Coinbase Global by 42.2% in the 2nd quarter. Centaurus Financial Inc. now owns 657 shares of the cryptocurrency exchange’s stock valued at $146,000 after buying an additional 195 shares in the last quarter. Finally, Lazari Capital Management Inc. boosted its stake in Coinbase Global by 8.5% in the 2nd quarter. Lazari Capital Management Inc. now owns 2,692 shares of the cryptocurrency exchange’s stock valued at $598,000 after buying an additional 211 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Monday, July 15th. The stock was sold at an average price of $229.70, for a total transaction of $344,550.00. Following the completion of the sale, the chief operating officer now directly owns 196,471 shares of the company’s stock, valued at $45,129,388.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $229.70, for a total value of $344,550.00. Following the completion of the transaction, the chief operating officer now directly owns 196,471 shares of the company’s stock, valued at approximately $45,129,388.70. The trade was a 0.00 % 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, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 80,037 shares of company stock valued at $15,512,370 over the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 0.4 %

Shares of Coinbase Global stock opened at $166.97 on Thursday. 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 12 month low of $70.42 and a 12 month high of $283.48. The business has a fifty day simple moving average of $180.16 and a 200 day simple moving average of $214.67. The stock has a market cap of $41.00 billion, a PE ratio of 33.33 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm earned ($0.42) earnings per share. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. Research analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Compass Point cut their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Barclays lifted their price objective on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Bank of America cut their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $246.44.

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.