Coinbase Global, Inc. $COIN Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 20.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,004 shares of the cryptocurrency exchange’s stock after selling 14,270 shares during the quarter. Cetera Investment Advisers’ holdings in Coinbase Global were worth $18,928,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after acquiring an additional 1,755,146 shares during the last quarter. Groupama Asset Managment raised its stake 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 worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 4.8% in 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 buying an additional 875,359 shares during the period. Nuveen LLC acquired a new stake in shares of Coinbase Global during the 1st quarter worth approximately $83,454,000. Finally, Amundi raised its position in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on COIN shares. JPMorgan Chase & Co. lowered their price objective 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. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, October 31st. BTIG Research boosted 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. President Capital upped their target price on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Barclays dropped their price target on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $399.94.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total value of $31,088,000.00. Following the sale, the chief operating officer directly owned 187,802 shares in the company, valued at $58,383,885.76. This represents a 34.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 668,346 shares of company stock worth $211,487,225. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $261.79 on Wednesday. The business’s fifty day moving average price is $331.56 and its 200 day moving average price is $316.13. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $70.59 billion, a PE ratio of 22.65 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last announced its 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. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.Coinbase Global’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, sell-side 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.