Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lessened by FORA Capital LLC

FORA Capital LLC trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 68.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,014 shares of the cryptocurrency exchange’s stock after selling 17,581 shares during the quarter. FORA Capital LLC’s holdings in Coinbase Global were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the third quarter worth approximately $25,000. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter valued at approximately $29,000. Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Coinbase Global during the third quarter valued at approximately $32,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 6.0 %

Shares of COIN stock opened at $310.98 on Thursday. The stock has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The stock has a fifty day moving average price of $219.83 and a 200 day moving average price of $216.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insider Buying and Selling at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,219 shares of company stock valued at $65,593,121. 23.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COIN shares. Monness Crespi & Hardt started coverage on Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Barclays increased their price target on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $255.22.

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.