Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 66.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 445 shares of the cryptocurrency exchange’s stock after selling 863 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Coinbase Global were worth $79,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after acquiring an additional 1,540 shares during the period. Sanctuary Advisors LLC bought a new position in Coinbase Global during the 2nd quarter valued at $2,908,000. Intech Investment Management LLC increased its position in shares of 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 purchasing an additional 33,240 shares during the period. QRG Capital Management Inc. raised its stake in shares of Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after buying an additional 5,493 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 valued at $1,337,000 after buying an additional 4,127 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the transaction, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,187 shares of company stock valued at $15,213,544. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Up 1.9 %

COIN stock opened at $186.27 on Tuesday. The company has a 50 day moving average of $180.63 and a two-hundred day moving average of $208.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $84.09 and a 12-month high of $283.48. The company has a market cap of $46.28 billion, a price-to-earnings ratio of 31.79 and a beta of 3.33.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities analysts anticipate that Coinbase Global, Inc. will post 4.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COIN shares. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Needham & Company LLC boosted their target price on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research note on Friday. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Finally, Mizuho increased their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.28.

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.