Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Versant Capital Management Inc

Versant Capital Management Inc grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 106.9% in the 4th quarter, HoldingsChannel reports. The firm owned 298 shares of the cryptocurrency exchange’s stock after acquiring an additional 154 shares during the quarter. Versant Capital Management Inc’s holdings in Coinbase Global were worth $74,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COIN. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares in the last quarter. Larson Financial Group LLC increased its position in Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after buying an additional 57 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after buying an additional 61 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Coinbase Global by 3.9% in the third quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock worth $314,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $181.36, for a total transaction of $272,040.00. Following the completion of the transaction, the chief operating officer now owns 176,601 shares of the company’s stock, valued at $32,028,357.36. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,641 shares of company stock worth $80,937,273 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Mizuho lifted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. One investment 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, the stock has an average rating of “Hold” and a consensus target price of $286.22.

Coinbase Global Stock Performance

NASDAQ COIN opened at $270.65 on Monday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $67.76 billion, a P/E ratio of 46.19 and a beta of 3.57. The company’s 50-day simple moving average is $280.83 and its 200 day simple moving average is $228.15.

Coinbase Global (NASDAQ:COIN) last released 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 company had revenue of $1.21 billion during 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 company’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

About Coinbase Global

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.