Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,996 shares of the cryptocurrency exchange’s stock after selling 3,351 shares during the period. Penserra Capital Management LLC’s holdings in Coinbase Global were worth $11,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its holdings in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares in the last quarter. Fifth Third Bancorp lifted its stake in Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after purchasing an additional 55 shares during the last quarter. Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 57 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after purchasing an additional 57 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research analyst reports. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Needham & Company LLC lifted their target price on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Compass Point decreased their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.00.

Coinbase Global Stock Performance

Shares of COIN opened at $304.64 on Monday. The firm has a market cap of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. The company’s fifty day moving average is $214.20 and its 200-day moving average is $215.18. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12 month low of $107.98 and a 12 month high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In related news, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This trade represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,129 shares of company stock valued at $46,522,970. Corporate insiders own 23.43% of the company’s stock.

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.