Sage Advisors LLC Sells 736 Shares of Coinbase Global, Inc. $COIN

Sage Advisors LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,342 shares of the cryptocurrency exchange’s stock after selling 736 shares during the period. Coinbase Global makes up 0.3% of Sage Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Sage Advisors LLC’s holdings in Coinbase Global were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Axxcess Wealth Management LLC raised its position in shares of Coinbase Global by 34.9% during the second quarter. Axxcess Wealth Management LLC now owns 5,990 shares of the cryptocurrency exchange’s stock worth $2,099,000 after purchasing an additional 1,550 shares during the period. Acorn Financial Advisory Services Inc. ADV acquired a new position in shares of Coinbase Global during the second quarter worth approximately $269,000. NorthRock Partners LLC acquired a new position in shares of Coinbase Global during the second quarter worth approximately $705,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Coinbase Global during the second quarter worth approximately $6,414,000. Finally, Concord Wealth Partners acquired a new position in shares of Coinbase Global during the second quarter worth approximately $188,000. 68.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Jennifer N. Jones sold 1,756 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total transaction of $527,713.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total value of $8,886,750.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,815 shares of company stock worth $135,227,072. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on COIN shares. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $325.00 to $417.00 in a research report on Friday, October 3rd. Barclays lowered their target price on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Compass Point reaffirmed a “sell” rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Finally, China Renaissance started coverage on Coinbase Global in a research report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.12.

View Our Latest Analysis on COIN

Coinbase Global Trading Down 0.0%

Shares of Coinbase Global stock opened at $356.99 on Tuesday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm has a market cap of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68. The stock has a fifty day moving average price of $325.84 and a 200-day moving average price of $289.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global Company Profile

(Free Report)

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.

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

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