Bleakley Financial Group LLC Decreases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Bleakley Financial Group LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,493 shares of the cryptocurrency exchange’s stock after selling 264 shares during the period. Bleakley Financial Group LLC’s holdings in Coinbase Global were worth $622,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COIN. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% during the 3rd 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 period. Rheos Capital Works Inc. lifted its holdings in shares of Coinbase Global by 247.1% during the third quarter. Rheos Capital Works Inc. now owns 59,000 shares of the cryptocurrency exchange’s stock worth $10,512,000 after purchasing an additional 42,000 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Coinbase Global by 65.9% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,966 shares of the cryptocurrency exchange’s stock valued at $885,000 after buying an additional 1,972 shares during the last quarter. Swedbank AB increased its holdings in Coinbase Global by 1.6% in the 3rd quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock worth $8,233,000 after buying an additional 730 shares during the period. Finally, Creative Planning raised its position in Coinbase Global by 42.5% during the 3rd quarter. Creative Planning now owns 71,545 shares of the cryptocurrency exchange’s stock worth $12,747,000 after buying an additional 21,335 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the sale, the insider now owns 71,195 shares of the company’s stock, valued at $16,784,221.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. This trade represents a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction 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 $16,784,221.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,187 shares of company stock valued at $15,515,794. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Down 2.9 %

COIN opened at $213.72 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a twelve month low of $70.42 and a twelve month high of $283.48. The company has a market cap of $52.48 billion, a PE ratio of 42.66 and a beta of 3.35. The company has a 50-day moving average price of $180.60 and a 200 day moving average price of $210.90.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s revenue was up 104.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.42) EPS. Sell-side analysts expect that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Barclays boosted their price target on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $246.44.

Coinbase Global 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.