Westfield Capital Management Co. LP Has $58.49 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Westfield Capital Management Co. LP lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 61.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 328,270 shares of the cryptocurrency exchange’s stock after purchasing an additional 124,968 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Coinbase Global were worth $58,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Crewe Advisors LLC lifted its position 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 buying an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter valued at approximately $29,000. Versant Capital Management Inc raised its position 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 valued at $30,000 after purchasing an additional 57 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $32,000. Finally, Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $188.94, for a total value of $283,410.00. Following the transaction, the chief operating officer now directly owns 197,101 shares in the company, valued at $37,240,262.94. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,129 shares of company stock worth $46,522,970. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Up 3.2 %

NASDAQ COIN opened at $304.64 on Monday. The stock’s 50 day moving average is $214.20 and its two-hundred day moving average is $215.18. Coinbase Global, Inc. has a 1-year low of $107.98 and a 1-year high of $341.75. The company has a market capitalization of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. 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 (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $251.00.

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.