Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 287.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,277 shares of the cryptocurrency exchange’s stock after buying an additional 3,174 shares during the period. Synovus Financial Corp’s holdings in Coinbase Global were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Signaturefd LLC raised its stake in Coinbase Global by 13.2% during the 1st quarter. Signaturefd LLC now owns 868 shares of the cryptocurrency exchange’s stock valued at $165,000 after purchasing an additional 101 shares during the period. Cibc World Market Inc. raised its stake in Coinbase Global by 1.5% during the 2nd quarter. Cibc World Market Inc. now owns 7,629 shares of the cryptocurrency exchange’s stock valued at $359,000 after purchasing an additional 115 shares during the period. Los Angeles Capital Management LLC raised its stake in Coinbase Global by 0.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 23,681 shares of the cryptocurrency exchange’s stock valued at $4,496,000 after purchasing an additional 126 shares during the period. DAVENPORT & Co LLC raised its stake in Coinbase Global by 14.5% during the 1st quarter. DAVENPORT & Co LLC now owns 1,186 shares of the cryptocurrency exchange’s stock valued at $225,000 after purchasing an additional 150 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in Coinbase Global by 100.0% during the 1st quarter. WASHINGTON TRUST Co now owns 300 shares of the cryptocurrency exchange’s stock valued at $56,000 after purchasing an additional 150 shares during the period. 49.31% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $41.23 on Tuesday. Coinbase Global, Inc. has a 12-month low of $40.61 and a 12-month high of $335.90. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $9.36 billion, a PE ratio of -6.79 and a beta of 2.50. The firm has a 50-day moving average price of $64.77 and a 200 day moving average price of $66.54.

Coinbase Global (NASDAQ:COINGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.20). The firm had revenue of $590.34 million for the quarter, compared to the consensus estimate of $642.76 million. Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. Research analysts anticipate that Coinbase Global, Inc. will post -11.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. Piper Sandler lowered their price target on shares of Coinbase Global from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. Daiwa Capital Markets cut shares of Coinbase Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $82.00 to $52.00 in a report on Wednesday, November 9th. Cowen lowered their price target on shares of Coinbase Global from $85.00 to $75.00 in a report on Friday, November 4th. Citigroup lowered their price target on shares of Coinbase Global from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. Finally, BTIG Research lowered their price target on shares of Coinbase Global from $220.00 to $110.00 in a report on Friday, November 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.70.

Insiders Place Their Bets

In other news, CAO Jennifer N. Jones sold 2,177 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $72.00, for a total transaction of $156,744.00. Following the sale, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at $1,974,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer N. Jones sold 2,177 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $72.00, for a total transaction of $156,744.00. Following the sale, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at $1,974,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 29,732 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $54.66, for a total transaction of $1,625,151.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 68,268 shares of company stock valued at $4,476,456. 36.10% of the stock is currently owned by insiders.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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