Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 919,078 shares of the cryptocurrency exchange’s stock after buying an additional 52,856 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.37% of Coinbase Global worth $163,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Banco Santander S.A. raised its holdings in Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC raised 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 worth $477,000 after buying an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global in the 3rd quarter worth $29,756,000. Lindbrook Capital LLC lifted its holdings in shares of Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after buying an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Coinbase Global during the second quarter valued at about $2,908,000. 68.84% of the stock is currently owned by institutional investors.

Insider Activity at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the transaction, the chief operating officer now owns 197,101 shares of the company’s stock, valued at approximately $37,240,262.94. This represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,129 shares of company stock valued at $46,522,970. 23.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. Barclays boosted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Monness Crespi & Hardt started coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $251.00.

Coinbase Global Trading Up 3.2 %

Shares of NASDAQ:COIN opened at $304.64 on Monday. Coinbase Global, Inc. has a 12-month low of $107.98 and a 12-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. The firm has a market capitalization of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34. The firm has a fifty day moving average of $214.20 and a two-hundred day moving average of $215.18.

Coinbase Global (NASDAQ:COIN) 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 net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal 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.