Stifel Financial Corp Has $7.75 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Stifel Financial Corp increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 45.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,512 shares of the cryptocurrency exchange’s stock after purchasing an additional 13,591 shares during the period. Stifel Financial Corp’s holdings in Coinbase Global were worth $7,753,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. grew its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $409,919,000. Cowen AND Company LLC increased its position in Coinbase Global by 1.5% in the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares in the last quarter. Renaissance Technologies LLC raised its stake in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after acquiring an additional 52,856 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $179.69, for a total transaction of $269,535.00. Following the sale, the chief operating officer now owns 186,101 shares of the company’s stock, valued at approximately $33,440,488.69. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 270,720 shares of company stock valued at $79,787,248 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on COIN shares. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Barclays raised their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.22.

Coinbase Global Trading Down 0.3 %

Shares of NASDAQ:COIN opened at $312.96 on Friday. The business has a 50-day moving average price of $254.08 and a 200-day moving average price of $224.63. The stock has a market cap of $78.35 billion, a price-to-earnings ratio of 53.41 and a beta of 3.56. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 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%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same period last year, the business earned ($0.01) earnings per share. Equities analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

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.