Intech Investment Management LLC Has $3.64 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Intech Investment Management LLC trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 81.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,402 shares of the cryptocurrency exchange’s stock after selling 86,959 shares during the period. Intech Investment Management LLC’s holdings in Coinbase Global were worth $3,635,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Global Retirement Partners LLC raised its position in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global during the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC lifted its position in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global in the 2nd quarter valued at $2,908,000. Finally, QRG Capital Management Inc. increased its position in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares during the period. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,091 shares of company stock valued at $50,033,426. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho upped their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Compass Point dropped their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $251.00.

Coinbase Global Stock Performance

NASDAQ COIN opened at $304.64 on Friday. The company has a fifty day moving average price of $214.20 and a 200-day moving average price of $215.16. The firm has a market cap of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $107.98 and a 1 year high of $341.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, equities research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal 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.