Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 35.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,353 shares of the cryptocurrency exchange’s stock after selling 1,843 shares during the period. Focus Financial Network Inc.’s holdings in Coinbase Global were worth $745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of COIN. International Assets Investment Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $34,422,000. Allspring Global Investments Holdings LLC grew its stake in shares of Coinbase Global by 87.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,504 shares of the cryptocurrency exchange’s stock valued at $1,131,000 after buying an additional 3,030 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Coinbase Global during the 4th quarter worth $59,000. Strs Ohio purchased a new stake in Coinbase Global during the 4th quarter worth $765,000. Finally, Xponance Inc. boosted its position in Coinbase Global by 3.1% during the 4th quarter. Xponance Inc. now owns 6,454 shares of the cryptocurrency exchange’s stock worth $1,122,000 after purchasing an additional 193 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $7.21 during midday trading on Tuesday, reaching $197.25. The stock had a trading volume of 12,334,484 shares, compared to its average volume of 10,996,060. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48. The firm’s fifty day simple moving average is $224.24 and its 200-day simple moving average is $220.63. The stock has a market capitalization of $48.44 billion, a P/E ratio of 38.63 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. Coinbase Global’s revenue was up 104.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.42) earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 16,456 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total value of $3,675,283.04. Following the completion of the sale, the insider now owns 16,140 shares in the company, valued at approximately $3,604,707.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Paul Grewal sold 17,444 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $239.07, for a total transaction of $4,170,337.08. Following the completion of the sale, the insider now owns 71,195 shares in the company, valued at approximately $17,020,588.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lawrence J. Brock sold 16,456 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the transaction, the insider now owns 16,140 shares of the company’s stock, valued at approximately $3,604,707.60. The disclosure for this sale can be found here. Insiders sold 126,505 shares of company stock valued at $29,218,061 in the last ninety days. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COIN. Bank of America cut their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wedbush boosted their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, HC Wainwright decreased their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $248.38.

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.