Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Huntington National Bank

Huntington National Bank trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 37.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517 shares of the cryptocurrency exchange’s stock after selling 303 shares during the quarter. Huntington National Bank’s holdings in Coinbase Global were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Crewe Advisors LLC increased its holdings in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the 2nd quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings 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 worth $30,000 after buying an additional 57 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $32,000. Finally, Spirit of America Management Corp NY acquired a new position in shares of Coinbase Global in the 2nd quarter valued at $33,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at $15,000,000. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 135,822 shares of company stock worth $30,921,194. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Barclays raised their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Needham & Company LLC increased their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $251.00.

Coinbase Global Price Performance

Coinbase Global stock opened at $325.41 on Tuesday. The stock has a market capitalization of $81.47 billion, a P/E ratio of 55.53 and a beta of 3.34. The company’s fifty day moving average price is $202.13 and its 200 day moving average price is $212.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $100.01 and a 1 year high of $334.86.

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

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.