Coinbase Global, Inc. $COIN Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 55.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 805 shares of the cryptocurrency exchange’s stock after selling 984 shares during the quarter. Inspire Investing LLC’s holdings in Coinbase Global were worth $282,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COIN. Bessemer Group Inc. raised its holdings in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Coinbase Global during the first quarter worth $30,000. S Bank Fund Management Ltd purchased a new position in Coinbase Global during the first quarter worth $31,000. SouthState Corp increased its position in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 104 shares in the last quarter. Finally, NBT Bank N A NY purchased a new position in Coinbase Global during the first quarter worth $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on COIN shares. Needham & Company LLC raised their price target on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Citigroup raised their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Erste Group Bank started coverage on Coinbase Global in a research report on Wednesday, July 23rd. They set a “buy” rating for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $367.94.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 1,742 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $322.22, for a total transaction of $561,307.24. Following the completion of the sale, the chief financial officer owned 5,226 shares of the company’s stock, valued at approximately $1,683,921.72. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 1,756 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $300.52, for a total value of $527,713.12. The disclosure for this sale can be found here. Insiders sold a total of 199,515 shares of company stock worth $65,362,451 in the last three months. 17.65% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $330.25 on Friday. The company has a market cap of $84.85 billion, a P/E ratio of 31.94 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The business has a fifty day simple moving average of $327.75 and a 200-day simple moving average of $291.54.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.