Coinbase Global, Inc. (NASDAQ:COIN) Holdings Cut by Centaurus Financial Inc.

Centaurus Financial Inc. lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 588 shares of the cryptocurrency exchange’s stock after selling 69 shares during the period. Centaurus Financial Inc.’s holdings in Coinbase Global were worth $105,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coinbase Global by 2.3% during 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 buying an additional 71,398 shares during the last quarter. Cowen AND Company LLC raised its holdings in shares of Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after buying an additional 52,856 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Coinbase Global by 1,136.7% during the second 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. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. 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. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.22.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This represents a 97.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the completion of the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at $52,972,696.56. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,719 shares of company stock worth $65,309,711 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $310.98 on Friday. The company’s fifty day moving average is $222.79 and its two-hundred day moving average is $217.21. 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 12-month low of $114.51 and a 12-month high of $341.75. The company has a market cap of $77.85 billion, a P/E ratio of 53.07 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned ($0.01) earnings per share. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal 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.