Blueshift Asset Management LLC Grows Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Blueshift Asset Management LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 916.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,852 shares of the cryptocurrency exchange's stock after buying an additional 16,998 shares during the period. Coinbase Global accounts for 0.8% of Blueshift Asset Management LLC's holdings, making the stock its 15th biggest position. Blueshift Asset Management LLC's holdings in Coinbase Global were worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC increased its stake in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock worth $27,000 after acquiring an additional 104 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the second quarter worth $29,000. Versant Capital Management Inc increased its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock worth $30,000 after acquiring an additional 57 shares during the period. Spirit of America Management Corp NY acquired a new stake in shares of Coinbase Global in the second quarter worth $33,000. Finally, Continuum Advisory LLC increased its stake in shares of Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange's stock worth $34,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. JMP Securities restated a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. 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 price target on the stock. Finally, Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a "buy" rating and a $245.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $255.22.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company's stock, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 239,219 shares of company stock valued at $65,593,121 over the last ninety days. Company insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded up $17.69 during midday trading on Wednesday, hitting $310.98. The company's stock had a trading volume of 13,258,184 shares, compared to its average volume of 11,193,557. The business's 50 day simple moving average is $219.83 and its 200 day simple moving average is $216.55. 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 company has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $341.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the firm earned ($0.01) earnings per share. Coinbase Global's revenue for the quarter was up 78.8% on a year-over-year basis. On average, analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

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.