Oppenheimer & Co. Inc. Sells 3,805 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Oppenheimer & Co. Inc. lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 48.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,989 shares of the cryptocurrency exchange’s stock after selling 3,805 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Coinbase Global were worth $711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter valued at approximately $29,000. Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the period. ORG Wealth Partners LLC acquired a new stake in Coinbase Global in the third quarter worth $32,000. Finally, Spirit of America Management Corp NY bought a new position in shares of Coinbase Global during the second quarter worth $33,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC raised their price target on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 price target 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $251.00.

Insider Transactions at Coinbase Global

In other news, Director Gokul Rajaram sold 400 shares of Coinbase Global stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now directly owns 7,771 shares in the company, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 16,962 shares of the 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 sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,822 shares of company stock worth $30,921,194 in the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 0.3 %

NASDAQ:COIN opened at $324.57 on Wednesday. Coinbase Global, Inc. has a twelve month low of $100.01 and a twelve month high of $334.86. The firm has a market capitalization of $81.26 billion, a price-to-earnings ratio of 55.39 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $205.45 and its two-hundred day moving average price is $213.30.

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

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.