Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 94.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,649 shares of the cryptocurrency exchange’s stock after selling 496,863 shares during the period. Canada Pension Plan Investment Board’s holdings in Coinbase Global were worth $6,811,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after purchasing an additional 55 shares in the last quarter. Versant Capital Management Inc lifted its stake in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Larson Financial Group LLC grew its holdings in Coinbase Global by 12.1% during the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after buying an additional 57 shares during the last quarter. Benjamin Edwards Inc. increased its position in Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after buying an additional 61 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC raised its holdings in shares of Coinbase Global by 4.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock worth $314,000 after acquiring an additional 62 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Up 0.9 %

NASDAQ COIN opened at $171.68 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company’s 50 day moving average price is $195.80 and its 200 day moving average price is $220.40. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 34.27 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the company posted ($0.42) earnings per share. On average, sell-side analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on COIN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average price target of $246.06.

Insider Activity

In other news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $115,883.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The disclosure for this sale can be found here. Insiders have sold 101,562 shares of company stock worth $20,920,899 over the last 90 days. Company 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.