Robeco Institutional Asset Management B.V. Sells 52,221 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Robeco Institutional Asset Management B.V. lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 10.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 438,100 shares of the cryptocurrency exchange’s stock after selling 52,221 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Coinbase Global were worth $28,254,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Toroso Investments LLC raised its stake in shares of Coinbase Global by 0.3% during the 3rd quarter. Toroso Investments LLC now owns 301,487 shares of the cryptocurrency exchange’s stock worth $19,442,000 after acquiring an additional 772 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Coinbase Global by 46.9% during the 3rd quarter. IHT Wealth Management LLC now owns 6,868 shares of the cryptocurrency exchange’s stock worth $443,000 after acquiring an additional 2,193 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Coinbase Global by 4.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 8,520 shares of the cryptocurrency exchange’s stock valued at $550,000 after purchasing an additional 353 shares in the last quarter. California State Teachers Retirement System increased its stake in Coinbase Global by 6.0% during the 3rd quarter. California State Teachers Retirement System now owns 229,464 shares of the cryptocurrency exchange’s stock valued at $14,798,000 after purchasing an additional 13,064 shares in the last quarter. Finally, One Fin Capital Management LP acquired a new position in Coinbase Global during the 3rd quarter valued at approximately $10,963,000. Institutional investors own 46.41% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 94,000 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $33.83, for a total value of $3,180,020.00. Following the completion of the sale, the chief financial officer now owns 193,568 shares in the company, valued at approximately $6,548,405.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Coinbase Global news, CFO Alesia J. Haas sold 94,000 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $33.83, for a total value of $3,180,020.00. Following the completion of the sale, the chief financial officer now owns 193,568 shares in the company, valued at approximately $6,548,405.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tobias Lutke acquired 4,960 shares of the business’s stock in a transaction on Tuesday, February 7th. The stock was acquired at an average price of $72.95 per share, with a total value of $361,832.00. Following the acquisition, the director now owns 208,830 shares in the company, valued at approximately $15,234,148.50. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 67,526 shares of company stock worth $2,953,057 and sold 338,857 shares worth $14,445,827. 36.10% of the stock is owned by insiders.

Coinbase Global Stock Up 5.1 %

COIN opened at $67.78 on Friday. Coinbase Global, Inc. has a twelve month low of $31.55 and a twelve month high of $206.79. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $59.10 and a 200 day moving average price of $57.04. The company has a market cap of $15.69 billion, a PE ratio of -5.72 and a beta of 2.63.

Coinbase Global (NASDAQ:COIN – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.07). Coinbase Global had a negative return on equity of 44.89% and a negative net margin of 82.18%. The company had revenue of $629.10 million for the quarter, compared to analyst estimates of $587.37 million. During the same quarter last year, the company earned $3.32 EPS. The firm’s revenue for the quarter was down 74.7% on a year-over-year basis. Sell-side analysts expect that Coinbase Global, Inc. will post -4.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $37.00 to $32.00 and set an “underperform” rating on the stock in a research note on Thursday, January 12th. Piper Sandler upped their price target on shares of Coinbase Global from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Wells Fargo & Company upped their price target on shares of Coinbase Global from $34.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $73.00 price target on shares of Coinbase Global in a research note on Thursday, March 2nd. Finally, Barclays upped their price target on shares of Coinbase Global from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 22nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.38.

About Coinbase Global

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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.