Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Commerce Bank

Commerce Bank decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 56.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,486 shares of the cryptocurrency exchange’s stock after selling 13,755 shares during the period. Commerce Bank’s holdings in Coinbase Global were worth $1,868,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COIN. Crewe Advisors LLC lifted its stake in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new position in Coinbase Global during the second quarter worth about $29,000. Versant Capital Management Inc increased its position in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at approximately $32,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,091 shares of company stock valued at $50,033,426. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on COIN. Needham & Company LLC raised their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $251.00.

Coinbase Global Trading Up 3.2 %

NASDAQ:COIN opened at $304.64 on Friday. 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 52-week low of $107.98 and a 52-week high of $341.75. The stock’s 50 day moving average price is $214.20 and its 200 day moving average price is $215.16. The company has a market capitalization of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34.

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

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.