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

Oppenheimer & Co. Inc. decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 48.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in COIN. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. Versant Capital Management Inc grew its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Spirit of America Management Corp NY bought a new position in Coinbase Global during the second quarter worth about $33,000. Finally, Continuum Advisory LLC raised its stake in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction dated 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 approximately $15,000,000. The trade was a 44.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated 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 directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The trade was 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 valued at $30,921,194 in the last ninety days. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Down 0.3 %

NASDAQ COIN opened at $324.57 on Wednesday. The company has a market cap of $81.26 billion, a price-to-earnings ratio of 55.39 and a beta of 3.34. Coinbase Global, Inc. has a twelve month low of $100.01 and a twelve month high of $334.86. 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 business’s fifty day moving average is $205.45 and its 200 day moving average is $213.30.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on COIN shares. Needham & Company LLC raised their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $251.00.

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.