Optimize Financial Inc Sells 477 Shares of Coinbase Global, Inc. $COIN

Optimize Financial Inc cut its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,772 shares of the cryptocurrency exchange’s stock after selling 477 shares during the quarter. Optimize Financial Inc’s holdings in Coinbase Global were worth $305,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vivaldi Capital Management LP raised its position in Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock valued at $3,437,000 after purchasing an additional 47 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Coinbase Global by 7.1% in the first quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange’s stock valued at $124,000 after buying an additional 48 shares during the period. Rede Wealth LLC increased its stake in shares of Coinbase Global by 0.6% in the first quarter. Rede Wealth LLC now owns 8,027 shares of the cryptocurrency exchange’s stock valued at $1,382,000 after buying an additional 50 shares during the period. Ancora Advisors LLC increased its stake in shares of Coinbase Global by 7.4% in the first quarter. Ancora Advisors LLC now owns 868 shares of the cryptocurrency exchange’s stock valued at $149,000 after buying an additional 60 shares during the period. Finally, Callan Capital LLC increased its stake in shares of Coinbase Global by 5.1% in the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange’s stock valued at $215,000 after buying an additional 61 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. The Goldman Sachs Group increased their price target on Coinbase Global from $239.00 to $268.00 and gave the company a “neutral” rating in a research note on Monday, July 7th. Jefferies Financial Group increased their price target on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Williams Trading set a $405.00 price target on Coinbase Global in a research note on Thursday, July 31st. Finally, Needham & Company LLC increased their price target on Coinbase Global from $270.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $352.72.

Coinbase Global Trading Up 5.5%

NASDAQ COIN opened at $318.78 on Wednesday. The business has a 50 day simple moving average of $342.74 and a 200 day simple moving average of $265.13. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The stock has a market capitalization of $81.91 billion, a P/E ratio of 30.83 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider owned 478 shares in the company, valued at approximately $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $302.19, for a total value of $7,554,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $158,951.94. The trade was a 97.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,180,871 shares of company stock worth $440,664,276. Company insiders own 23.43% of the company’s stock.

About Coinbase Global

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.