AlTi Global Inc. Sells 716 Shares of Coinbase Global, Inc. $COIN

AlTi Global Inc. decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 13.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,669 shares of the cryptocurrency exchange’s stock after selling 716 shares during the quarter. AlTi Global Inc.’s holdings in Coinbase Global were worth $1,637,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Coinbase Global by 40.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange’s stock valued at $2,213,000 after purchasing an additional 3,695 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Coinbase Global by 23.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 37,869 shares of the cryptocurrency exchange’s stock valued at $6,522,000 after purchasing an additional 7,073 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Coinbase Global by 60.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 16,724 shares of the cryptocurrency exchange’s stock valued at $2,880,000 after purchasing an additional 6,315 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Coinbase Global by 5.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 73,643 shares of the cryptocurrency exchange’s stock worth $12,684,000 after purchasing an additional 3,818 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. This represents a 15.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares in the company, valued at $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 205,657 shares of company stock worth $67,479,576 in the last ninety days. 17.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Argus initiated coverage on Coinbase Global in a research report on Monday, July 14th. They issued a “buy” rating and a $400.00 target price for the company. BTIG Research initiated coverage on Coinbase Global in a research report on Wednesday, October 1st. They issued a “buy” rating and a $410.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Piper Sandler reiterated a “neutral” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Compass Point raised their price objective on Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $384.12.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $354.46 on Friday. The business’s fifty day simple moving average is $329.63 and its 200 day simple moving average is $298.57. The firm has a market capitalization of $91.07 billion, a P/E ratio of 34.28 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last issued 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). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global 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.