167,010 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 167,010 shares of the cryptocurrency exchange’s stock, valued at approximately $29,756,000. Coinbase Global comprises 1.8% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 11th biggest holding. CloudAlpha Capital Management Limited Hong Kong owned about 0.07% of Coinbase Global at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the period. Sanctuary Advisors LLC purchased a new stake in Coinbase Global in the second quarter valued at approximately $2,908,000. Intech Investment Management LLC increased its holdings in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after buying an additional 33,240 shares during the period. Finally, QRG Capital Management Inc. raised its position in Coinbase Global by 237.5% during the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $284.72 on Thursday. The company has a fifty day simple moving average of $193.17 and a 200-day simple moving average of $210.75. 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 $71.28 billion, a price-to-earnings ratio of 48.59 and a beta of 3.34. Coinbase Global, Inc. has a 52-week low of $89.79 and a 52-week high of $334.86.

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

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent research reports. Bank of America upped their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $246.28.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at $15,000,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,822 shares of company stock worth $30,921,194. 23.43% of the stock is owned by corporate insiders.

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.