Mutual Advisors LLC Reduces Position in Coinbase Global, Inc. $COIN

Mutual Advisors LLC lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 28.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,794 shares of the cryptocurrency exchange’s stock after selling 1,099 shares during the period. Mutual Advisors LLC’s holdings in Coinbase Global were worth $979,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its stake in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Coinbase Global during the 1st quarter valued at about $30,000. S Bank Fund Management Ltd purchased a new stake in Coinbase Global during the 1st quarter valued at about $31,000. SouthState Corp grew its stake in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares during the period. Finally, Berbice Capital Management LLC purchased a new stake in shares of Coinbase Global in the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of several analyst reports. HC Wainwright reissued a “sell” rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. BTIG Research initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 1st. They issued a “buy” rating and a $410.00 price target for the company. Finally, Redburn Partners set a $417.00 price target on shares of Coinbase Global in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $367.94.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at $29,212,856.20. This represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 in the last ninety days. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $336.02 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The stock has a market capitalization of $86.34 billion, a P/E ratio of 32.50 and a beta of 3.68. The company has a 50 day moving average price of $328.26 and a 200 day moving average price of $293.42. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

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