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

Commerce Bank cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 56.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,486 shares of the cryptocurrency exchange’s stock after selling 13,755 shares during the quarter. Commerce Bank’s holdings in Coinbase Global were worth $1,868,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coinbase Global during the third quarter worth about $809,000. Prospera Financial Services Inc boosted its stake in shares of Coinbase Global by 3.6% during the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock worth $353,000 after acquiring an additional 68 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Coinbase Global by 43.0% in the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange’s stock worth $2,942,000 after acquiring an additional 4,965 shares during the period. Windle Wealth LLC increased its stake in Coinbase Global by 2.4% in the 3rd quarter. Windle Wealth LLC now owns 6,872 shares of the cryptocurrency exchange’s stock valued at $1,224,000 after purchasing an additional 158 shares in the last quarter. Finally, CAP Partners LLC raised its holdings in Coinbase Global by 12.8% during the third quarter. CAP Partners LLC now owns 6,191 shares of the cryptocurrency exchange’s stock worth $1,103,000 after purchasing an additional 704 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COIN shares. Monness Crespi & Hardt initiated coverage on Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Needham & Company LLC lifted their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. B. Riley began 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, HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $251.00.

Coinbase Global Stock Up 3.2 %

Shares of NASDAQ COIN opened at $304.64 on Friday. The stock has a market capitalization of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. 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 firm has a fifty day moving average of $214.20 and a 200-day moving average of $215.16. Coinbase Global, Inc. has a 52-week low of $107.98 and a 52-week high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for 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%. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. During the same period last year, the firm posted ($0.01) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. This represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,091 shares of company stock worth $50,033,426. Company insiders own 23.43% of the company’s stock.

Coinbase Global 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.