US Bancorp DE Sells 1,815 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

US Bancorp DE reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 18.9% in the third quarter, Holdings Channel.com reports. The fund owned 7,786 shares of the cryptocurrency exchange’s stock after selling 1,815 shares during the quarter. US Bancorp DE’s holdings in Coinbase Global were worth $1,387,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of COIN. SteelPeak Wealth LLC lifted its stake in Coinbase Global by 55.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 7,422 shares of the cryptocurrency exchange’s stock worth $1,322,000 after purchasing an additional 2,658 shares in the last quarter. Golden State Equity Partners raised its position in shares of Coinbase Global by 2.5% in the third quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange’s stock worth $514,000 after buying an additional 69 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Coinbase Global by 16,928.6% during the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock valued at $637,000 after buying an additional 3,555 shares during the period. Integrated Advisors Network LLC grew its position in Coinbase Global by 104.4% during the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock worth $351,000 after buying an additional 1,005 shares in the last quarter. Finally, abrdn plc increased its stake in Coinbase Global by 625.1% in the 3rd quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock worth $6,198,000 after acquiring an additional 29,990 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research analyst reports. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Barclays boosted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective on the stock. Compass Point dropped their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC increased their target price on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $246.28.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $255.58 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $84.69 and a fifty-two week high of $283.48. The firm has a market cap of $63.51 billion, a PE ratio of 43.42 and a beta of 3.34. The business has a 50 day moving average price of $181.83 and a 200-day moving average price of $208.60.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Equities research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the transaction, the chief operating officer now owns 175,101 shares in the company, valued at $35,598,033.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global 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 sale, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the transaction, the chief operating officer now directly owns 175,101 shares in the company, valued at approximately $35,598,033.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,187 shares of company stock worth $15,213,544. Company insiders own 23.43% of the company’s stock.

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.