Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lowered by Valley National Advisers Inc.

Valley National Advisers Inc. lessened its position in Coinbase Global, Inc. (NASDAQ:COIN) by 25.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206 shares of the cryptocurrency exchange’s stock after selling 71 shares during the period. Valley National Advisers Inc.’s holdings in Coinbase Global were worth $36,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the period. Sanctuary Advisors LLC acquired a new stake in Coinbase Global in the 2nd quarter valued at approximately $2,908,000. Intech Investment Management LLC raised its stake in Coinbase Global by 454.3% during the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after acquiring an additional 33,240 shares in the last quarter. QRG Capital Management Inc. boosted its position in Coinbase Global by 130.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after acquiring an additional 5,493 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Coinbase Global by 122.2% in the third quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock worth $1,337,000 after purchasing an additional 4,127 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 5.4 %

COIN stock opened at $216.10 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $53.07 billion, a P/E ratio of 43.13 and a beta of 3.35. Coinbase Global, Inc. has a 52-week low of $71.88 and a 52-week high of $283.48. The company’s 50 day simple moving average is $181.38 and its 200-day simple moving average is $209.38.

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

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total value of $349,500.00. Following the sale, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,187 shares of company stock worth $13,158,294. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a research report on Monday. They set a “buy” rating and a $245.00 price target on the stock. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, HC Wainwright cut their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $242.94.

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.