Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,721 shares of the cryptocurrency exchange’s stock after selling 73 shares during the period. Chesapeake Capital Corp IL’s holdings in Coinbase Global were worth $329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of Coinbase Global in the 2nd quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $32,000. Finally, Spirit of America Management Corp NY acquired a new position in shares of Coinbase Global in the 2nd quarter worth approximately $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Up 9.7 %

Shares of NASDAQ:COIN opened at $305.85 on Monday. Coinbase Global, Inc. has a 52 week low of $94.45 and a 52 week high of $334.86. The company’s 50 day moving average is $198.72 and its two-hundred day moving average is $211.90. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $76.57 billion, a PE ratio of 52.19 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior 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. Equities analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Needham & Company LLC upped their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average price target of $246.28.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $15,000,000. This trade represents a 44.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,822 shares of company stock valued at $30,921,194. Insiders own 23.43% of the company’s stock.

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.