Transcend Capital Advisors LLC Sells 2,491 Shares of Coinbase Global, Inc. $COIN

Transcend Capital Advisors LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 51.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,392 shares of the cryptocurrency exchange’s stock after selling 2,491 shares during the period. Transcend Capital Advisors LLC’s holdings in Coinbase Global were worth $838,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Amalgamated Bank grew its position in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after acquiring an additional 629 shares during the period. Kera Capital Partners Inc. grew its position in shares of Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after acquiring an additional 1,085 shares during the period. Parallel Advisors LLC grew its position in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after acquiring an additional 5,402 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after acquiring an additional 84 shares during the period. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $361.32, for a total value of $9,033,000.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $190,054.32. This represents a 97.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the sale, the chief financial officer owned 84,820 shares in the company, valued at $29,212,856.20. This represents a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 205,657 shares of company stock worth $67,479,576 in the last three months. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $355.22 on Wednesday. The stock has a market capitalization of $91.27 billion, a P/E ratio of 34.35 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $331.51 and its 200 day moving average is $303.03. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Coinbase Global from a “neutral” rating to an “overweight” rating and increased their target price for the company from $342.00 to $404.00 in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a research report on Tuesday, October 14th. Oppenheimer reissued an “outperform” rating and set a $417.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $325.00 to $417.00 in a research report on Friday, October 3rd. Finally, Citigroup increased their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.50.

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.