Assetmark Inc. Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Assetmark Inc. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 76.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,879 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,249 shares during the period. Assetmark Inc.’s holdings in Coinbase Global were worth $513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC grew its holdings in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global during the 2nd quarter valued at about $2,908,000. Intech Investment Management LLC grew its stake in shares of Coinbase Global by 454.3% during the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after acquiring an additional 33,240 shares during the period. QRG Capital Management Inc. grew its stake in shares of Coinbase Global by 237.5% during the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after acquiring an additional 23,040 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Coinbase Global by 122.2% in the 3rd quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock worth $1,337,000 after purchasing an additional 4,127 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Coinbase Global stock opened at $305.85 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average of $198.72 and a two-hundred day moving average of $211.83. The company has a market capitalization of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34. Coinbase Global, Inc. has a fifty-two week low of $94.45 and a fifty-two week high of $334.86.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. Compass Point decreased their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Monness Crespi & Hardt began coverage on Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $246.28.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,822 shares of company stock worth $30,921,194. 23.43% of the stock is owned by insiders.

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.