Realta Investment Advisors Sells 2,296 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Realta Investment Advisors reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.0% in the third quarter, HoldingsChannel.com reports. The firm owned 4,086 shares of the cryptocurrency exchange’s stock after selling 2,296 shares during the period. Realta Investment Advisors’ holdings in Coinbase Global were worth $802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC grew its stake in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Coinbase Global during the third quarter worth $32,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $3.63 during trading on Friday, hitting $182.88. The stock had a trading volume of 14,443,372 shares, compared to its average volume of 10,448,441. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 31.21 and a beta of 3.35. Coinbase Global, Inc. has a 12 month low of $80.81 and a 12 month high of $283.48. The business’s 50-day moving average is $180.98 and its 200 day moving average is $208.73. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 29.76% and a return on equity of 15.38%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business earned ($0.42) EPS. The business’s revenue was up 104.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on COIN shares. Piper Sandler restated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research note on Friday. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price target for the company. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $246.28.

Insider Buying and Selling

In other news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,687 shares of company stock worth $14,908,594. 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.