Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,198 shares of the cryptocurrency exchange’s stock after selling 447 shares during the period. Captrust Financial Advisors’ holdings in Coinbase Global were worth $748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Sequoia Financial Advisors LLC lifted its stake in Coinbase Global by 5.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,492 shares of the cryptocurrency exchange’s stock worth $776,000 after acquiring an additional 178 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Coinbase Global by 12.7% in the second quarter. Wedmont Private Capital now owns 1,760 shares of the cryptocurrency exchange’s stock valued at $384,000 after purchasing an additional 198 shares during the period. Diversified Trust Co increased its stake in Coinbase Global by 8.5% during the 2nd quarter. Diversified Trust Co now owns 2,287 shares of the cryptocurrency exchange’s stock worth $508,000 after buying an additional 180 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Coinbase Global during the 2nd quarter worth approximately $333,000. Finally, Cigna Investments Inc. New boosted its position in Coinbase Global by 11.5% in the 2nd quarter. Cigna Investments Inc. New now owns 2,044 shares of the cryptocurrency exchange’s stock valued at $455,000 after buying an additional 211 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several analyst reports. B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $276.22.

Insider Transactions 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, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction 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 transaction, the director now owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,220 shares of company stock worth $80,030,608. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $302.42 on Wednesday. The stock has a market cap of $75.71 billion, a P/E ratio of 51.61 and a beta of 3.56. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The stock has a 50 day moving average of $248.10 and a two-hundred day moving average of $223.38. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released 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 business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current 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.