GAMMA Investing LLC Has $258,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

GAMMA Investing LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 25.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,039 shares of the cryptocurrency exchange’s stock after purchasing an additional 214 shares during the period. GAMMA Investing LLC’s holdings in Coinbase Global were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the third quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $32,000. Abich Financial Wealth Management LLC raised its stake in shares of Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after acquiring an additional 181 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Coinbase Global by 233.7% during the second quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 208 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Piper Sandler boosted their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Barclays raised their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $288.44.

Coinbase Global Stock Performance

Shares of COIN opened at $264.33 on Wednesday. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $283.16 and a two-hundred day moving average price of $228.80. The firm has a market capitalization of $66.18 billion, a P/E ratio of 45.11 and a beta of 3.59.

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

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 305,641 shares of company stock valued at $90,030,923 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

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.