Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in Coinbase Global, Inc. (NASDAQ:COINGet Rating) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,600 shares of the cryptocurrency exchange’s stock after selling 3,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Coinbase Global were worth $4,295,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Tradewinds Capital Management LLC lifted its holdings in shares of Coinbase Global by 1,210.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 524 shares of the cryptocurrency exchange’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Coinbase Global during the second quarter worth $29,000. SeaCrest Wealth Management LLC purchased a new position in shares of Coinbase Global during the second quarter worth $29,000. Seeyond acquired a new stake in shares of Coinbase Global in the second quarter valued at $31,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 46.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COIN shares. Compass Point dropped their target price on Coinbase Global from $95.00 to $75.00 in a research report on Wednesday, October 26th. KeyCorp started coverage on shares of Coinbase Global in a research report on Monday, December 12th. They issued a “sector weight” rating for the company. Wells Fargo & Company cut their price objective on Coinbase Global from $55.00 to $33.00 and set an “underweight” rating on the stock in a research report on Monday, January 9th. Oppenheimer decreased their target price on Coinbase Global to $89.00 in a report on Tuesday, November 15th. Finally, Bank of America downgraded Coinbase Global from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $50.00 to $35.00 in a report on Wednesday, January 11th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.29.

Coinbase Global Trading Up 5.1 %

Shares of Coinbase Global stock opened at $49.98 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $11.34 billion, a P/E ratio of -8.23 and a beta of 2.16. Coinbase Global, Inc. has a 1 year low of $31.55 and a 1 year high of $232.00. The company’s fifty day moving average is $42.19 and its two-hundred day moving average is $59.34.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). The company had revenue of $590.34 million for the quarter, compared to analysts’ expectations of $642.76 million. Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. Analysts forecast that Coinbase Global, Inc. will post -11.7 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Tobias Lutke purchased 11,332 shares of the business’s stock in a transaction dated Wednesday, December 28th. The stock was acquired at an average price of $32.58 per share, for a total transaction of $369,196.56. Following the completion of the purchase, the director now directly owns 163,156 shares of the company’s stock, valued at $5,315,622.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 1,818 shares of Coinbase Global stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $44.39, for a total value of $80,701.02. Following the sale, the insider now owns 57,242 shares of the company’s stock, valued at approximately $2,540,972.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tobias Lutke bought 11,332 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were acquired at an average cost of $32.58 per share, with a total value of $369,196.56. Following the completion of the purchase, the director now owns 163,156 shares in the company, valued at approximately $5,315,622.48. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 101,543 shares of company stock worth $4,498,300 and have sold 471,048 shares worth $19,341,757. Company insiders own 36.10% of the company’s stock.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

Further Reading

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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