Coinbase Global, Inc. $COIN Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 45.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,497 shares of the cryptocurrency exchange’s stock after selling 3,723 shares during the period. Assetmark Inc.’s holdings in Coinbase Global were worth $1,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Groupama Asset Managment lifted its position in shares of Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $83,454,000. Amundi lifted its position in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Coinbase Global by 2,647.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock worth $66,572,000 after buying an additional 191,300 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares of the company’s stock, valued at $148,834.86. The trade was a 92.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 205,657 shares of company stock worth $67,989,576 in the last three months. 17.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, October 31st. Benchmark reissued a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $385.00 to $368.00 in a research note on Friday, October 31st. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $325.00 to $417.00 in a report on Friday, October 3rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $393.98.

Coinbase Global Stock Up 3.9%

Coinbase Global stock opened at $319.30 on Thursday. The company has a market capitalization of $82.04 billion, a PE ratio of 27.62 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The firm has a 50 day moving average price of $334.11 and a 200 day moving average price of $309.52.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 55.1% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 7.22 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.