Empowered Funds LLC Has $924,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Empowered Funds LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% in the 3rd quarter, Holdings Channel reports. The firm owned 5,185 shares of the cryptocurrency exchange’s stock after buying an additional 43 shares during the quarter. Empowered Funds LLC’s holdings in Coinbase Global were worth $924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC lifted its stake in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at $2,908,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Coinbase Global by 237.5% in the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after purchasing an additional 23,040 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This represents a 97.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now owns 7,771 shares in the company, valued at $1,588,703.24. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,091 shares of company stock valued at $50,033,426. 23.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COIN has been the subject of a number of research analyst reports. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho upped their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $251.00.

Coinbase Global Stock Performance

NASDAQ COIN opened at $304.64 on Friday. The stock has a market cap of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34. The company’s 50-day simple moving average is $214.20 and its 200 day simple moving average is $215.15. Coinbase Global, Inc. has a twelve month low of $107.98 and a twelve month high of $341.75. 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 (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm 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 quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

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.