Sage Advisors LLC Has $470,000 Stake in Coinbase Global, Inc. $COIN

Sage Advisors LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,342 shares of the cryptocurrency exchange’s stock after selling 736 shares during the quarter. Coinbase Global accounts for approximately 0.3% of Sage Advisors LLC’s investment portfolio, making the stock its 25th largest position. Sage Advisors LLC’s holdings in Coinbase Global were worth $470,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of COIN. Groupama Asset Managment raised its stake in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after acquiring an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares during the period. Nuveen LLC acquired a new position in shares of Coinbase Global in the first quarter valued at approximately $83,454,000. Amundi increased its stake in shares of Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Coinbase Global by 2,647.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock valued at $66,572,000 after buying an additional 191,300 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America lowered their price objective on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. China Renaissance assumed coverage on Coinbase Global in a research note on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price objective for the company. Mizuho set a $300.00 price objective on Coinbase Global in a research note on Thursday, September 18th. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. Finally, Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $367.12.

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the transaction, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. This represents a 92.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 1,742 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $322.22, for a total value of $561,307.24. Following the transaction, the chief financial officer owned 5,226 shares in the company, valued at $1,683,921.72. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 372,815 shares of company stock valued at $135,227,072 over the last three months. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $356.99 on Tuesday. The business’s 50 day simple moving average is $325.84 and its 200 day simple moving average is $289.77. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The stock has a market capitalization of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned $0.14 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Company 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.