OVERSEA CHINESE BANKING Corp Ltd Trims Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 30.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,175 shares of the cryptocurrency exchange’s stock after selling 510 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Coinbase Global were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. APEIRON CAPITAL Ltd acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $108,434,000. Sei Investments Co. boosted its stake in Coinbase Global by 41.7% in the first quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock valued at $2,629,000 after acquiring an additional 2,920 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Coinbase Global by 28.9% during the first quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock valued at $6,138,000 after purchasing an additional 5,189 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coinbase Global during the 1st quarter worth approximately $394,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Coinbase Global by 26.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 97,274 shares of the cryptocurrency exchange’s stock worth $25,789,000 after purchasing an additional 20,225 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 2.1 %

NASDAQ:COIN opened at $278.84 on Friday. Coinbase Global, Inc. has a 1-year low of $93.07 and a 1-year high of $334.86. The firm has a market capitalization of $69.81 billion, a price-to-earnings ratio of 47.58 and a beta of 3.34. 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 business’s fifty day moving average price is $193.17 and its 200 day moving average price is $210.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company earned ($0.01) earnings per share. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on COIN shares. Citigroup upgraded 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 research note on Tuesday, July 23rd. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho increased their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $246.28.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 40,000 shares of the company’s 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 approximately $15,000,000. This represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,822 shares of company stock worth $30,921,194 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

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.