Grant Private Wealth Management Inc Buys New Position in Coinbase Global, Inc. $COIN

Grant Private Wealth Management Inc acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,458 shares of the cryptocurrency exchange’s stock, valued at approximately $2,180,000. Coinbase Global makes up 1.3% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cadent Capital Advisors LLC increased its stake in shares of Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. increased its position in Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after buying an additional 30 shares during the period. Pettinga Financial Advisors LLC raised its position in Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares during the last quarter. StoneX Group Inc. raised its holdings in shares of Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock valued at $690,000 after buying an additional 34 shares during the last quarter. Finally, Evelyn Partners Investment Management Europe Ltd raised its stake in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $252.61 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a 50-day simple moving average of $301.82 and a 200 day simple moving average of $319.12. The company has a market cap of $68.11 billion, a PE ratio of 21.85 and a beta of 3.69. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COIN shares. Weiss Ratings restated a “hold (c)” rating on shares of Coinbase Global in a research report on Tuesday, October 14th. Barclays decreased their price objective on shares of Coinbase Global from $357.00 to $291.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. China Renaissance raised their target price on Coinbase Global from $444.60 to $479.30 in a report on Monday, November 3rd. Finally, Mizuho set a $280.00 price target on shares of Coinbase Global in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $392.04.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 1,787 shares of Coinbase Global stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $244.49, for a total transaction of $436,903.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 976 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $260.00, for a total transaction of $253,760.00. Following the sale, the insider owned 74,835 shares in the company, valued at $19,457,100. This trade represents a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 784,429 shares of company stock valued at $238,517,574 in the last ninety days. Insiders own 16.56% 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.