Coinbase Global, Inc. $COIN Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 20.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,004 shares of the cryptocurrency exchange’s stock after selling 14,270 shares during the period. Cetera Investment Advisers’ holdings in Coinbase Global were worth $18,928,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the second quarter worth $30,000. City State Bank purchased a new position in Coinbase Global in the second quarter valued at $33,000. Fourth Dimension Wealth LLC raised its position in shares of Coinbase Global by 300.0% in the second quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock worth $35,000 after acquiring an additional 75 shares during the period. MV Capital Management Inc. boosted its stake in shares of Coinbase Global by 215.6% during the 2nd quarter. MV Capital Management Inc. now owns 101 shares of the cryptocurrency exchange’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in shares of Coinbase Global by 625.0% during the 2nd quarter. NewSquare Capital LLC now owns 145 shares of the cryptocurrency exchange’s stock valued at $51,000 after acquiring an additional 125 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $261.79 on Wednesday. The stock has a market capitalization of $70.59 billion, a P/E ratio of 22.65 and a beta of 3.67. The business has a 50 day simple moving average of $331.56 and a two-hundred day simple moving average of $316.13. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The business’s revenue was up 55.1% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 55,688 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $321.81, for a total value of $17,920,955.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the transaction, the chief operating officer owned 187,802 shares in the company, valued at $58,383,885.76. The trade was a 34.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 668,346 shares of company stock worth $211,487,225 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COIN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday, October 31st. Bank of America cut their price objective on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Barclays decreased their target price on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Compass Point dropped their price target on shares of Coinbase Global from $277.00 to $266.00 in a research note on Friday, October 31st. Finally, Cantor Fitzgerald reduced their price objective on shares of Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.94.

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.