Coinbase Global, Inc. $COIN Shares Sold by AlTi Global Inc.

AlTi Global Inc. decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,669 shares of the cryptocurrency exchange’s stock after selling 716 shares during the period. AlTi Global Inc.’s holdings in Coinbase Global were worth $1,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the first quarter valued at approximately $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the second quarter worth $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global during the first quarter worth $31,000. Finally, SouthState Corp lifted its position in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 9.8%

Coinbase Global stock opened at $354.46 on Friday. The company has a 50-day simple moving average of $329.63 and a 200-day simple moving average of $298.57. The firm has a market capitalization of $91.07 billion, a P/E ratio of 34.28 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a one year low of $142.58 and a one year 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 the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COIN. Canaccord Genuity Group reissued a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. HC Wainwright reissued a “sell” rating and set a $300.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Bank of America cut their price target on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Compass Point upped their price target on shares of Coinbase Global from $248.00 to $277.00 and gave the company a “sell” rating in a report on Monday. Finally, Argus started coverage on shares of Coinbase Global in a report on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $384.12.

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.