Crossmark Global Holdings Inc. Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Crossmark Global Holdings Inc. boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,548 shares of the cryptocurrency exchange’s stock after acquiring an additional 173 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Coinbase Global were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV lifted 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 valued at $106,000 after purchasing an additional 51 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after acquiring an additional 55 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Larson Financial Group LLC raised its stake in Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after buying an additional 57 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of 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 acquiring an additional 61 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COIN has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Compass Point cut their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $305.85 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $94.45 and a 12-month high of $334.86. The firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34. The firm has a 50 day moving average of $198.72 and a 200 day moving average of $211.90.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly 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. Insiders sold a total of 135,822 shares of company stock worth $30,921,194 over the last quarter. 23.43% of the stock is currently owned by corporate insiders.

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.