SBI Securities Co. Ltd. Sells 2,669 Shares of Coinbase Global, Inc. $COIN

SBI Securities Co. Ltd. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the 1st quarter worth about $30,000. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the second quarter worth about $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global during the first quarter valued at about $31,000. SouthState Corp increased its stake in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Finally, City State Bank acquired a new position in Coinbase Global in the 2nd quarter valued at approximately $33,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 4.4%

Shares of NASDAQ COIN opened at $304.01 on Wednesday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The business has a fifty day moving average of $334.21 and a two-hundred day moving average of $313.48. The stock has a market cap of $81.97 billion, a PE ratio of 26.30 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COIN. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. BTIG Research boosted their price target 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 increased their price objective on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. B. Riley lifted their target price on shares of Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and upped their target price for the company from $300.00 to $425.00 in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $399.94.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,400 shares of Coinbase Global stock in a transaction that occurred on Wednesday, October 15th. The shares were 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 owned 84,820 shares in the company, valued at approximately $29,212,856.20. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total value of $8,437,250.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $177,519.74. This trade represents a 97.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 487,658 shares of company stock valued at $154,461,520. Insiders own 23.43% of the company’s stock.

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.