Huntington National Bank Trims Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Huntington National Bank cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 37.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 517 shares of the cryptocurrency exchange’s stock after selling 303 shares during the quarter. Huntington National Bank’s holdings in Coinbase Global were worth $92,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC grew its holdings in shares of Coinbase Global by 547.4% in 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 period. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc increased its holdings in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Coinbase Global during the 2nd quarter valued at approximately $33,000. Finally, Continuum Advisory LLC lifted its holdings in Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 6.4 %

COIN stock opened at $325.41 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $100.01 and a fifty-two week high of $334.86. The company’s 50 day moving average price is $202.13 and its 200 day moving average price is $212.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $81.47 billion, a price-to-earnings ratio of 55.53 and a beta of 3.34.

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

Insider Buying and Selling at Coinbase Global

In related news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares of the company’s stock, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,822 shares of company stock worth $30,921,194 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Compass Point cut their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price target for the company. Finally, Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $251.00.

About Coinbase Global

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.