Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 27.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,346 shares of the cryptocurrency exchange’s stock after selling 9,176 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Coinbase Global were worth $4,465,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Coinbase Global by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after buying an additional 55 shares during the period. Versant Capital Management Inc boosted its holdings in Coinbase Global by 75.0% in the second 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 during the last quarter. Larson Financial Group LLC increased its stake in Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after acquiring an additional 57 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the period. Finally, Capital Advisors Wealth Management LLC lifted its stake in shares of Coinbase Global by 4.6% in the 2nd quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock valued at $314,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $179.25 on Friday. The firm has a fifty day moving average of $181.56 and a two-hundred day moving average of $209.01. The firm has a market cap of $44.54 billion, a P/E ratio of 32.18 and a beta of 3.35. Coinbase Global, Inc. has a 1-year low of $73.56 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted ($0.42) earnings per share. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. As a group, research analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COIN shares. Compass Point dropped their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Mizuho increased their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday. Needham & Company LLC lifted their target price on shares of Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a report on Thursday. Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Monness Crespi & Hardt began coverage on Coinbase Global in a research note on Monday. They set a “buy” rating and a $245.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $246.28.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,687 shares of company stock valued at $14,908,594. Corporate insiders own 23.43% of the company’s stock.

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.