Crossmark Global Holdings Inc. Acquires 173 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Crossmark Global Holdings Inc. boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,548 shares of the cryptocurrency exchange’s stock after purchasing an additional 173 shares during the period. Crossmark Global Holdings Inc.’s holdings in Coinbase Global were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COIN. Crewe Advisors LLC grew its position in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory purchased a new position in Coinbase Global in the second quarter valued at about $29,000. Versant Capital Management Inc grew its position in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $32,000. Finally, Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $33,000. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays increased their price objective on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. Finally, Compass Point lowered their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Price Performance

NASDAQ:COIN opened at $305.85 on Monday. Coinbase Global, Inc. has a 52-week low of $94.45 and a 52-week high of $334.86. The stock has a fifty day moving average of $198.72 and a 200 day moving average of $211.90. 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 firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue was up 78.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. On average, research analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 40,000 shares of the company’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 in the company, valued at approximately $15,000,000. This represents a 44.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,822 shares of company stock valued at $30,921,194 in the last quarter. Corporate 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.