Los Angeles Capital Management LLC Decreases Stock Holdings in Coinbase Global, Inc. $COIN

Los Angeles Capital Management LLC cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,982 shares of the cryptocurrency exchange’s stock after selling 1,601 shares during the period. Los Angeles Capital Management LLC’s holdings in Coinbase Global were worth $11,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of COIN. Envestnet Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 9,952 shares during the period. TD Private Client Wealth LLC boosted its position in Coinbase Global by 38.5% during the first quarter. TD Private Client Wealth LLC now owns 611 shares of the cryptocurrency exchange’s stock worth $105,000 after purchasing an additional 170 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Coinbase Global by 29.1% in the first quarter. Crossmark Global Holdings Inc. now owns 1,813 shares of the cryptocurrency exchange’s stock valued at $312,000 after purchasing an additional 409 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Coinbase Global by 11.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock valued at $4,548,000 after purchasing an additional 2,748 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Coinbase Global by 4.7% in the first quarter. Greenleaf Trust now owns 1,596 shares of the cryptocurrency exchange’s stock valued at $275,000 after buying an additional 71 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $309.14 on Monday. The company has a 50-day simple moving average of $333.93 and a 200-day simple moving average of $312.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market cap of $83.36 billion, a PE ratio of 26.74 and a beta of 3.67. 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 earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. Coinbase Global’s revenue was up 55.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In related news, CFO Alesia J. Haas sold 4,400 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total value of $1,515,404.00. Following the completion of the transaction, the chief financial officer directly owned 84,820 shares in the company, valued at approximately $29,212,856.20. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 205,657 shares of company stock valued at $67,989,576 over the last quarter. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on COIN shares. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating on the stock. Oppenheimer reiterated an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.36.

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.