Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 61.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 328,270 shares of the cryptocurrency exchange’s stock after buying an additional 124,968 shares during the quarter. Westfield Capital Management Co. LP owned about 0.13% of Coinbase Global worth $58,488,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC grew its stake in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global during the second quarter valued at approximately $29,000. Versant Capital Management Inc grew its position in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at approximately $32,000. Finally, Spirit of America Management Corp NY bought a new position in shares of Coinbase Global in the 2nd quarter worth about $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Up 3.2 %

Shares of Coinbase Global stock 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 firm has a market capitalization of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. 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 stock’s fifty day moving average is $214.20 and its 200-day moving average is $215.18.

Coinbase Global (NASDAQ:COIN) last posted 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities 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, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This represents a 97.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,129 shares of company stock worth $46,522,970. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays upped their price objective on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.