Nuveen Asset Management LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) by 44.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 422,768 shares of the cryptocurrency exchange’s stock after buying an additional 130,178 shares during the period. Nuveen Asset Management LLC owned 0.19% of Coinbase Global worth $27,265,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in shares of Coinbase Global by 3,355.6% in the first quarter. Lazard Asset Management LLC now owns 311 shares of the cryptocurrency exchange’s stock worth $59,000 after acquiring an additional 302 shares during the last quarter. BDO Wealth Advisors LLC boosted its stake in Coinbase Global by 133.5% in the 3rd quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock worth $25,000 after purchasing an additional 223 shares in the last quarter. Ellevest Inc. purchased a new stake in Coinbase Global during the 3rd quarter valued at about $26,000. Guardian Wealth Advisors LLC bought a new stake in Coinbase Global during the 3rd quarter valued at about $29,000. Finally, Wipfli Financial Advisors LLC purchased a new position in Coinbase Global in the third quarter worth about $31,000. Institutional investors own 46.41% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on COIN shares. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Coinbase Global in a report on Wednesday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $73.00 price target on shares of Coinbase Global in a research note on Wednesday, February 22nd. Daiwa Capital Markets downgraded Coinbase Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $82.00 to $52.00 in a report on Wednesday, November 9th. Oppenheimer lifted their price objective on Coinbase Global from $72.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Finally, Compass Point raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, February 17th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.54.
Coinbase Global Trading Down 0.2 %
Coinbase Global (NASDAQ:COIN – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.07). The firm had revenue of $629.10 million during the quarter, compared to the consensus estimate of $587.37 million. Coinbase Global had a negative return on equity of 44.89% and a negative net margin of 82.18%. The business’s revenue for the quarter was down 74.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.32 earnings per share. As a group, research analysts predict that Coinbase Global, Inc. will post -4.07 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Alesia J. Haas sold 92,000 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $45.31, for a total value of $4,168,520.00. Following the transaction, the chief financial officer now directly owns 137,568 shares in the company, valued at $6,233,206.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Jennifer N. Jones sold 8,197 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $62.12, for a total transaction of $509,197.64. Following the completion of the transaction, the chief accounting officer now owns 34,752 shares in the company, valued at $2,158,794.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 92,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $45.31, for a total transaction of $4,168,520.00. Following the transaction, the chief financial officer now directly owns 137,568 shares of the company’s stock, valued at $6,233,206.08. The disclosure for this sale can be found here. In the last quarter, insiders acquired 84,254 shares of company stock worth $3,720,721 and sold 445,723 shares worth $19,310,968. 36.10% of the stock is currently owned by company insiders.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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