Mutual Advisors LLC Decreases Stock Holdings in Coinbase Global, Inc. $COIN

Mutual Advisors LLC reduced its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 28.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,794 shares of the cryptocurrency exchange’s stock after selling 1,099 shares during the period. Mutual Advisors LLC’s holdings in Coinbase Global were worth $979,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Coinbase Global by 297.4% during the 1st 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. North Star Investment Management Corp. acquired a new stake in Coinbase Global during the 2nd quarter worth $55,000. McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global during the 1st quarter worth $30,000. S Bank Fund Management Ltd acquired a new stake in Coinbase Global during the 1st quarter worth $31,000. Finally, Ameriflex Group Inc. raised its stake in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after acquiring an additional 30 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Compass Point reiterated a “sell” rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Bank of America cut their price target on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on shares of Coinbase Global from $363.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.94.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $361.32, for a total value of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares of the company’s stock, valued at $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at approximately $28,475,608.64. The trade was a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock valued at $67,479,576 over the last quarter. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Trading Up 1.7%

NASDAQ COIN opened at $336.02 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm has a market cap of $86.34 billion, a PE ratio of 32.50 and a beta of 3.68. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The firm’s fifty day moving average is $328.26 and its two-hundred day moving average is $293.42.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm 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%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Company 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.