Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by AlTi Global Inc.

AlTi Global Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,973 shares of the cryptocurrency exchange’s stock after selling 390 shares during the period. AlTi Global Inc.’s holdings in Coinbase Global were worth $1,327,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COIN. PNC Financial Services Group Inc. boosted its holdings in Coinbase Global by 12.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,640 shares of the cryptocurrency exchange’s stock valued at $981,000 after purchasing an additional 610 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Coinbase Global by 25.1% during the 4th quarter. Wells Fargo & Company MN now owns 45,785 shares of the cryptocurrency exchange’s stock valued at $7,963,000 after buying an additional 9,194 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Coinbase Global by 1.1% during the fourth quarter. Corient Private Wealth LLC now owns 8,813 shares of the cryptocurrency exchange’s stock worth $1,533,000 after buying an additional 94 shares in the last quarter. Assetmark Inc. increased its stake in shares of Coinbase Global by 64.3% in the fourth quarter. Assetmark Inc. now owns 1,290 shares of the cryptocurrency exchange’s stock worth $224,000 after buying an additional 505 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Coinbase Global by 18.4% in the fourth quarter. Franklin Resources Inc. now owns 7,447 shares of the cryptocurrency exchange’s stock valued at $1,295,000 after acquiring an additional 1,156 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.95, for a total transaction of $335,925.00. Following the completion of the transaction, the chief operating officer now owns 205,971 shares in the company, valued at approximately $46,127,205.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $223.95, for a total transaction of $335,925.00. Following the sale, the chief operating officer now directly owns 205,971 shares in the company, valued at approximately $46,127,205.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The disclosure for this sale can be found here. Insiders have sold 101,562 shares of company stock valued at $20,920,899 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COIN. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Bank of America lowered their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Stock Down 2.7 %

COIN stock opened at $167.08 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $194.16 and its 200 day simple moving average is $220.03. The stock has a market cap of $41.52 billion, a PE ratio of 33.35 and a beta of 3.36. Coinbase Global, Inc. has a fifty-two week low of $69.71 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.42) EPS. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current 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.