American Century Companies Inc. Trims Holdings in Coinbase Global, Inc. $COIN

American Century Companies Inc. cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 69.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,271 shares of the cryptocurrency exchange’s stock after selling 277,373 shares during the quarter. American Century Companies Inc.’s holdings in Coinbase Global were worth $43,205,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Evelyn Partners Investment Management Europe Ltd raised its holdings in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global during the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global during the second quarter worth $30,000. S Bank Fund Management Ltd purchased a new stake in Coinbase Global in the 1st quarter valued at about $31,000. Finally, SouthState Corp increased its stake in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $273.62, for a total transaction of $1,504,910.00. Following the transaction, the chief financial officer owned 79,320 shares in the company, valued at $21,703,538.40. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,787 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $244.49, for a total value of $436,903.63. The disclosure for this sale is available in the SEC filing. Insiders have sold 762,995 shares of company stock valued at $235,840,503 in the last ninety days. Insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on COIN shares. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Monday, November 10th. President Capital boosted their price objective on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Erste Group Bank lowered Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. The Goldman Sachs Group reduced their target price on Coinbase Global from $368.00 to $314.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, BTIG Research boosted their price target on Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $397.63.

Coinbase Global Trading Up 3.8%

NASDAQ COIN opened at $274.92 on Friday. The company has a market capitalization of $74.13 billion, a price-to-earnings ratio of 23.78 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company’s fifty day moving average price is $320.11 and its two-hundred day moving average price is $317.61.

Coinbase Global (NASDAQ:COIN) last issued its 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 company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $0.28 EPS. The business’s revenue was up 55.1% on a year-over-year basis. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 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.