Advisory Services Network LLC Has $2.51 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Advisory Services Network LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 13,220 shares of the cryptocurrency exchange’s stock after selling 2,506 shares during the quarter. Advisory Services Network LLC’s holdings in Coinbase Global were worth $2,510,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank boosted its position in Coinbase Global by 346.4% during the 1st quarter. Huntington National Bank now owns 683 shares of the cryptocurrency exchange’s stock worth $130,000 after buying an additional 530 shares during the period. Gladstone Institutional Advisory LLC lifted its position in shares of Coinbase Global by 10.5% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 2,638 shares of the cryptocurrency exchange’s stock worth $501,000 after purchasing an additional 250 shares during the period. Brown Advisory Inc. lifted its position in shares of Coinbase Global by 15.2% in the 1st quarter. Brown Advisory Inc. now owns 15,880 shares of the cryptocurrency exchange’s stock worth $3,015,000 after purchasing an additional 2,093 shares during the period. Toronto Dominion Bank lifted its position in shares of Coinbase Global by 25.6% in the 1st quarter. Toronto Dominion Bank now owns 12,627 shares of the cryptocurrency exchange’s stock worth $2,397,000 after purchasing an additional 2,573 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of Coinbase Global by 24.9% in the 4th quarter. Squarepoint Ops LLC now owns 25,820 shares of the cryptocurrency exchange’s stock worth $6,516,000 after purchasing an additional 5,140 shares during the period. 49.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JMP Securities dropped their price target on shares of Coinbase Global from $205.00 to $195.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 10th. Keefe, Bruyette & Woods downgraded shares of Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 price target on the stock. in a research report on Wednesday, August 10th. Mizuho dropped their price target on shares of Coinbase Global from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Coinbase Global from $64.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup cut their price objective on shares of Coinbase Global from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.14.

Coinbase Global Stock Down 4.2 %

Coinbase Global stock opened at $74.00 on Friday. Coinbase Global, Inc. has a 1-year low of $40.83 and a 1-year high of $368.90. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of -36.63 and a beta of 3.31. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $72.21 and a 200 day simple moving average of $98.14.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) EPS for the quarter, missing analysts’ consensus estimates of ($3.04) by ($1.91). The firm had revenue of $808.33 million for the quarter, compared to analysts’ expectations of $877.32 million. Coinbase Global had a negative net margin of 4.79% and a negative return on equity of 4.61%. On average, analysts predict that Coinbase Global, Inc. will post -10.99 earnings per share for the current year.

Insider Activity

In other news, Director Tobias Lutke purchased 4,482 shares of Coinbase Global stock in a transaction dated Tuesday, September 13th. The stock was purchased at an average cost of $75.39 per share, for a total transaction of $337,897.98. Following the transaction, the director now directly owns 54,583 shares of the company’s stock, valued at $4,115,012.37. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Coinbase Global news, CAO Jennifer N. Jones sold 2,177 shares of Coinbase Global stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.00, for a total transaction of $156,744.00. Following the completion of the sale, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at $1,974,024. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tobias Lutke acquired 4,482 shares of Coinbase Global stock in a transaction dated Tuesday, September 13th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $337,897.98. Following the completion of the transaction, the director now directly owns 54,583 shares in the company, valued at approximately $4,115,012.37. The disclosure for this purchase can be found here. Insiders bought 29,083 shares of company stock worth $2,201,152 in the last three months. Corporate insiders own 36.10% of the company’s stock.

Coinbase Global Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

See Also

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINGet Rating).

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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