Coinbase Global, Inc. $COIN Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 57.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 151,040 shares of the cryptocurrency exchange’s stock after selling 200,737 shares during the quarter. Coinbase Global comprises approximately 0.9% of Quadrature Capital Ltd’s portfolio, making the stock its 21st largest position. Quadrature Capital Ltd’s holdings in Coinbase Global were worth $52,944,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COIN. Bessemer Group Inc. lifted its holdings in Coinbase Global by 672.2% in the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after buying an additional 1,015 shares in the last quarter. SP Asset Management LLC acquired a new stake in shares of Coinbase Global during the second quarter valued at about $360,000. Kera Capital Partners Inc. increased its position in shares of Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after acquiring an additional 1,085 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after acquiring an additional 5,402 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its stake in shares of Coinbase Global by 890.8% in the second quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock worth $11,033,000 after acquiring an additional 28,302 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. B. Riley raised their price target on shares of Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Compass Point dropped their price target on shares of Coinbase Global from $277.00 to $266.00 in a research note on Friday, October 31st. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $325.00 to $417.00 in a report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $398.08.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the stock in a transaction dated 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 SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $271.87, for a total transaction of $10,874,800.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 762,995 shares of company stock valued at $235,840,503. Company insiders own 17.65% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $264.97 on Friday. The business’s fifty day moving average price is $321.46 and its 200 day moving average price is $317.13. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The stock has a market capitalization of $71.45 billion, a PE ratio of 22.92 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 (NASDAQ:COIN) last released its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.40. The firm had revenue of $1.87 billion during 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%. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Equities research analysts forecast 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.