Andra AP fonden Sells 26,200 Shares of Coinbase Global, Inc. $COIN

Andra AP fonden trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 79.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,800 shares of the cryptocurrency exchange’s stock after selling 26,200 shares during the quarter. Andra AP fonden’s holdings in Coinbase Global were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cadent Capital Advisors LLC raised its stake in shares of Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after acquiring an additional 30 shares during the last quarter. Ameriflex Group Inc. grew its holdings in Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after purchasing an additional 30 shares during the period. Pettinga Financial Advisors LLC increased its stake in Coinbase Global by 2.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after purchasing an additional 34 shares in the last quarter. Hemington Wealth Management lifted its position in Coinbase Global by 12.1% in the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after acquiring an additional 38 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Coinbase Global by 13.7% during the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock worth $113,000 after buying an additional 39 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COIN. Barclays reduced their target price on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. BTIG Research upped their price objective on shares of Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a report on Friday, October 31st. China Renaissance increased their target price on Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. UBS Group set a $404.00 price objective on shares of Coinbase Global in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $397.36.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $177,519.74. This represents a 97.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the transaction, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. The trade was a 10.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 205,657 shares of company stock valued at $67,989,576 over the last 90 days. Company insiders own 17.65% of the company’s stock.

Coinbase Global Stock Up 4.7%

Shares of COIN opened at $309.14 on Friday. The stock’s 50-day moving average price is $333.93 and its two-hundred day moving average price is $310.35. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market capitalization of $79.43 billion, a PE ratio of 26.74 and a beta of 3.67. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

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