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

Summit Trail Advisors LLC reduced its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,450 shares of the cryptocurrency exchange’s stock after selling 468 shares during the period. Summit Trail Advisors LLC’s holdings in Coinbase Global were worth $15,656,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Renaissance Technologies LLC grew its position in Coinbase Global by 185.9% in the 2nd 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 in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares in the last quarter. American Century Companies Inc. lifted its position in Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd bought a new position in Coinbase Global during the 1st quarter valued at $108,434,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the transaction, the chief financial officer now owns 182,903 shares in the company, valued at $41,901,248.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. Insiders sold a total of 111,562 shares of company stock worth $23,115,399 in the last quarter. 23.43% of the stock is owned by company insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $170.09 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $199.80 and a 200 day simple moving average of $222.00. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a market capitalization of $41.77 billion, a PE ratio of 33.95 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned ($0.42) earnings per share. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on COIN. Compass Point dropped their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright decreased their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Finally, Bank of America dropped their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $246.06.

About Coinbase Global

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.