OVERSEA CHINESE BANKING Corp Ltd Decreases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 30.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,175 shares of the cryptocurrency exchange’s stock after selling 510 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Coinbase Global were worth $211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COIN. Crewe Advisors LLC boosted its position in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global in the 2nd quarter valued at about $29,000. Versant Capital Management Inc increased its holdings in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Coinbase Global during the third quarter worth about $32,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Coinbase Global in the second quarter valued at about $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $278.84 on Friday. The firm has a market capitalization of $69.81 billion, a PE ratio of 47.58 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $93.07 and a 12 month high of $334.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average of $193.17 and a two-hundred day moving average of $210.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on COIN. Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $246.28.

Insider Activity

In other news, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,822 shares of company stock valued at $30,921,194. Company insiders own 23.43% of the company’s stock.

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.