Brown Brothers Harriman & Co. Purchases 204 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Brown Brothers Harriman & Co. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 408.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 254 shares of the cryptocurrency exchange’s stock after purchasing an additional 204 shares during the period. Brown Brothers Harriman & Co.’s holdings in Coinbase Global were worth $45,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Crewe Advisors LLC boosted its position in shares of 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 acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the 2nd quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings 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 buying an additional 57 shares in the last quarter. Spirit of America Management Corp NY bought a new position in shares of Coinbase Global during the 2nd quarter worth approximately $33,000. Finally, Continuum Advisory LLC boosted its stake in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COIN. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Barclays lifted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Mizuho increased their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $255.22.

Insider Buying and Selling

In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,719 shares of company stock valued at $65,309,711 over the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 6.0 %

Shares of NASDAQ COIN opened at $310.98 on Friday. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $341.75. The firm’s 50-day moving average is $222.79 and its 200-day moving average is $217.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34.

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

About Coinbase Global

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.