D.A. Davidson & CO. Has $1.05 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

D.A. Davidson & CO. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,894 shares of the cryptocurrency exchange’s stock after purchasing an additional 90 shares during the period. D.A. Davidson & CO.’s holdings in Coinbase Global were worth $1,050,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in COIN. Renaissance Technologies LLC lifted its position in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares in the last quarter. American Century Companies Inc. increased its position in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global during the third quarter worth about $29,756,000. International Assets Investment Management LLC acquired a new position in Coinbase Global during the third quarter valued at approximately $26,665,000. Finally, Banco Santander S.A. bought a new position in Coinbase Global in the second quarter valued at approximately $29,372,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent analyst reports. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. Needham & Company LLC raised their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average target price of $255.22.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $296.20 on Monday. 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 12-month low of $114.51 and a 12-month high of $341.75. The company’s 50 day moving average price is $228.17 and its two-hundred day moving average price is $218.64. The firm has a market cap of $74.15 billion, a PE ratio of 50.55 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted 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 company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. Equities research analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the transaction, the chief operating officer now directly owns 177,576 shares of the company’s stock, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,719 shares of company stock valued at $65,309,711 over the last quarter. 23.43% of the stock is owned by corporate insiders.

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.