Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Cetera Advisors LLC


Cetera Advisors LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COINGet Rating) by 23.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,815 shares of the cryptocurrency exchange’s stock after selling 1,461 shares during the period. Cetera Advisors LLC’s holdings in Coinbase Global were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Coinbase Global during the second quarter valued at about $326,251,000. Nikko Asset Management Americas Inc. increased its position in shares of Coinbase Global by 34.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 6,606,262 shares of the cryptocurrency exchange’s stock valued at $312,366,000 after acquiring an additional 1,701,828 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Coinbase Global by 4.5% during the first quarter. Vanguard Group Inc. now owns 6,025,188 shares of the cryptocurrency exchange’s stock valued at $1,143,942,000 after acquiring an additional 260,538 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Coinbase Global by 13.2% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 605,251 shares of the cryptocurrency exchange’s stock valued at $28,524,000 after purchasing an additional 70,792 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Coinbase Global by 19.7% in the first quarter. State Street Corp now owns 553,861 shares of the cryptocurrency exchange’s stock valued at $105,156,000 after purchasing an additional 90,991 shares in the last quarter. 49.31% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Up 6.1 %

COIN stock opened at $45.73 on Thursday. The company has a fifty day moving average price of $59.93 and a 200 day moving average price of $64.65. Coinbase Global, Inc. has a 12 month low of $40.61 and a 12 month high of $331.70. The company has a market cap of $10.38 billion, a price-to-earnings ratio of -7.53 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. The business had revenue of $590.34 million during the quarter, compared to analysts’ expectations of $642.76 million. Sell-side analysts expect that Coinbase Global, Inc. will post -11.42 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,175 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $43.85, for a total value of $95,373.75. Following the transaction, the chief accounting officer now directly owns 30,631 shares of the company’s stock, valued at approximately $1,343,169.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Coinbase Global news, CAO Jennifer N. Jones sold 2,175 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $43.85, for a total value of $95,373.75. Following the transaction, the chief accounting officer now directly owns 30,631 shares of the company’s stock, valued at approximately $1,343,169.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tobias Lutke acquired 5,894 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was purchased at an average cost of $62.00 per share, for a total transaction of $365,428.00. Following the completion of the purchase, the director now directly owns 50,101 shares in the company, valued at approximately $3,106,262. The disclosure for this purchase can be found here. In the last three months, insiders have bought 71,665 shares of company stock valued at $4,477,547 and have sold 152,450 shares valued at $6,833,374. 36.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on COIN shares. Atlantic Securities lifted their price objective on shares of Coinbase Global from $54.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 6th. Piper Sandler dropped their price objective on shares of Coinbase Global from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Needham & Company LLC dropped their price objective on shares of Coinbase Global from $89.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, November 22nd. Compass Point lowered their price target on shares of Coinbase Global from $95.00 to $75.00 in a report on Wednesday, October 26th. Finally, Barclays lowered their price target on shares of Coinbase Global from $55.00 to $44.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $89.17.

Coinbase Global Company 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.

Further Reading

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



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