Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 66.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,181 shares of the cryptocurrency exchange’s stock after selling 2,326 shares during the period. Versor Investments LP’s holdings in Coinbase Global were worth $210,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in COIN. TRU Independence Asset Management 2 LLC acquired a new position in Coinbase Global during the third quarter valued at $447,000. Los Angeles Capital Management LLC grew its holdings in Coinbase Global by 8.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock worth $265,000 after acquiring an additional 110 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Coinbase Global by 2.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 70,689 shares of the cryptocurrency exchange’s stock worth $12,595,000 after acquiring an additional 1,540 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Coinbase Global by 12.6% in the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock valued at $276,000 after acquiring an additional 173 shares during the period. Finally, Colonial River Investments LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $327,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of Coinbase Global stock in a transaction on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the sale, the director now owns 50,000 shares in the company, valued at $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,822 shares of company stock valued at $30,921,194 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $305.85 on Friday. Coinbase Global, Inc. has a 1 year low of $94.45 and a 1 year high of $334.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $76.57 billion, a PE ratio of 52.19 and a beta of 3.34. The business has a 50 day simple moving average of $198.72 and a 200-day simple moving average of $211.89.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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 research report on Thursday, October 31st. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Company 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.