Banco Santander S.A. Sells 76,097 Shares of Coinbase Global, Inc. $COIN

Banco Santander S.A. reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 44.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,186 shares of the cryptocurrency exchange’s stock after selling 76,097 shares during the quarter. Banco Santander S.A.’s holdings in Coinbase Global were worth $33,011,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Cadent Capital Advisors LLC raised its holdings in Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after acquiring an additional 30 shares during the period. Ameriflex Group Inc. raised its holdings in Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after acquiring an additional 30 shares during the period. Pettinga Financial Advisors LLC raised its holdings in Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after acquiring an additional 34 shares during the period. Hemington Wealth Management raised its holdings in Coinbase Global by 12.1% in the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after acquiring an additional 38 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in Coinbase Global by 13.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock valued at $113,000 after acquiring an additional 39 shares during the period. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. This trade represents a 97.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the sale, the insider owned 82,328 shares in the company, valued at $28,475,608.64. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,657 shares of company stock worth $67,479,576. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $354.46 on Monday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $91.07 billion, a price-to-earnings ratio of 34.28 and a beta of 3.68. The firm’s 50 day simple moving average is $329.63 and its 200 day simple moving average is $300.44. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on COIN shares. Canaccord Genuity Group restated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Oppenheimer restated an “outperform” rating and set a $417.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Piper Sandler restated a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Argus started coverage on shares of Coinbase Global in a research report on Monday, July 14th. They set a “buy” rating and a $400.00 target price on the stock. Finally, Bank of America decreased their target price on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $384.12.

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.