Coinbase Global, Inc. $COIN Stock Position Reduced by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,504 shares of the cryptocurrency exchange’s stock after selling 2,669 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Coinbase Global were worth $8,939,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COIN. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares in the last quarter. ARK Investment Management LLC boosted its position in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after purchasing an additional 34,462 shares during the last quarter. Groupama Asset Managment boosted its position in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after purchasing an additional 1,500,000 shares during the last quarter. Amundi grew its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after purchasing an additional 7,675 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. China Renaissance increased their price objective on Coinbase Global from $444.60 to $479.30 in a report on Monday, November 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. 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 research note on Friday, October 31st. Finally, Erste Group Bank started coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $399.94.

Coinbase Global Stock Down 4.4%

Shares of Coinbase Global stock opened at $304.01 on Wednesday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $334.21 and a two-hundred day moving average price of $313.48. The stock has a market capitalization of $81.97 billion, a P/E ratio of 26.30 and a beta of 3.67.

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

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,054.32. This represents a 97.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 487,658 shares of company stock worth $154,461,520 in the last quarter. 23.43% of the stock is currently owned by company insiders.

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.