Rossby Financial LCC Sells 150 Shares of Coinbase Global, Inc. $COIN

Rossby Financial LCC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815 shares of the cryptocurrency exchange’s stock after selling 150 shares during the quarter. Rossby Financial LCC’s holdings in Coinbase Global were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in COIN. Groupama Asset Managment grew its position in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Coinbase Global by 4.8% during 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 purchasing an additional 875,359 shares in the last quarter. Nuveen LLC purchased a new position in Coinbase Global in the first quarter valued at about $83,454,000. Amundi raised its holdings in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Coinbase Global by 2,647.4% during 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 last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the 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 completion of the sale, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $28,475,608.64. The trade was a 10.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 205,657 shares of company stock worth $67,479,576. 23.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho set a $300.00 price target on shares of Coinbase Global in a report on Thursday, September 18th. JPMorgan Chase & Co. upgraded shares of Coinbase Global from a “neutral” rating to an “overweight” rating and raised their price target for the company from $342.00 to $404.00 in a report on Friday, October 24th. Rosenblatt Securities restated a “buy” rating and issued a $470.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Finally, HC Wainwright restated a “sell” rating and issued a $300.00 price target on shares of Coinbase Global in a report on Friday, August 1st. One equities research 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 stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $387.50.

Coinbase Global Trading Down 1.7%

Coinbase Global stock opened at $355.22 on Wednesday. The stock has a 50-day moving average of $331.51 and a two-hundred day moving average of $303.03. 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. The stock has a market cap of $91.27 billion, a PE ratio of 34.35 and a beta of 3.68.

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