Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 31.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,672 shares of the cryptocurrency exchange’s stock after selling 774 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Coinbase Global were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in COIN. Sumitomo Mitsui Trust Group Inc. grew its position in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after acquiring an additional 71,398 shares in the last quarter. Cowen AND Company LLC increased its stake in Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after buying an additional 22,071 shares during the period. Renaissance Technologies LLC increased its stake in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after buying an additional 52,856 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the completion of the sale, the chief operating officer now directly owns 177,576 shares of the company’s stock, valued at approximately $52,972,696.56. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the transaction, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,719 shares of company stock valued at $65,309,711. 23.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on COIN shares. HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Compass Point cut their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Oppenheimer raised their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $255.22.

Coinbase Global Trading Down 4.8 %

Coinbase Global stock opened at $296.20 on Friday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $74.15 billion, a price-to-earnings ratio of 50.55 and a beta of 3.34. The firm has a 50-day moving average price of $225.65 and a two-hundred day moving average price of $217.86.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s quarterly revenue was up 78.8% on a year-over-year basis. Sell-side analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

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.