Raymond James & Associates Has $2.08 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Raymond James & Associates reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,257 shares of the cryptocurrency exchange’s stock after selling 959 shares during the period. Raymond James & Associates’ holdings in Coinbase Global were worth $2,080,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of COIN. Tradewinds Capital Management LLC raised its holdings in Coinbase Global by 1,210.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 524 shares of the cryptocurrency exchange’s stock worth $25,000 after buying an additional 484 shares during the period. Oakworth Capital Inc. acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $29,000. SeaCrest Wealth Management LLC acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $29,000. Seeyond acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $31,000. Finally, PSI Advisors LLC acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $34,000. 46.41% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Up 11.6 %

COIN opened at $55.16 on Monday. Coinbase Global, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $217.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $12.52 billion, a P/E ratio of -9.09 and a beta of 2.16. The stock has a fifty day moving average of $42.12 and a 200-day moving average of $59.39.

Coinbase Global (NASDAQ:COIN – Get Rating) last posted its earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. The firm had revenue of $590.34 million for the quarter, compared to analyst estimates of $642.76 million. On average, equities analysts expect that Coinbase Global, Inc. will post -11.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on COIN. Cowen downgraded shares of Coinbase Global from an “outperform” rating to a “market perform” rating and set a $36.00 target price on the stock. in a report on Thursday, January 5th. Wells Fargo & Company lowered their price objective on shares of Coinbase Global from $55.00 to $33.00 and set an “underweight” rating on the stock in a report on Monday, January 9th. KeyCorp started coverage on shares of Coinbase Global in a report on Monday, December 12th. They issued a “sector weight” rating on the stock. Compass Point lowered their price objective on shares of Coinbase Global from $95.00 to $75.00 in a report on Wednesday, October 26th. Finally, Wedbush lowered their price objective on shares of Coinbase Global from $100.00 to $75.00 in a report on Friday, November 4th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $74.04.

Insider Transactions at Coinbase Global

In related news, Director Tobias Lutke purchased 6,834 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The stock was acquired at an average price of $54.21 per share, with a total value of $370,471.14. Following the completion of the purchase, the director now directly owns 190,670 shares in the company, valued at $10,336,220.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Alesia J. Haas sold 103,859 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $42.44, for a total value of $4,407,775.96. Following the completion of the transaction, the chief financial officer now owns 92,317 shares of the company’s stock, valued at $3,917,933.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tobias Lutke bought 6,834 shares of the stock in a transaction on Wednesday, January 18th. The shares were acquired at an average cost of $54.21 per share, with a total value of $370,471.14. Following the purchase, the director now owns 190,670 shares of the company’s stock, valued at approximately $10,336,220.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 108,377 shares of company stock valued at $4,868,771 and sold 560,244 shares valued at $23,892,552. Insiders own 36.10% of the company’s stock.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.