Itau Unibanco Holding S.A. Decreases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Itau Unibanco Holding S.A. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 30.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,941 shares of the cryptocurrency exchange’s stock after selling 864 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coinbase Global were worth $346,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of COIN. Empowered Funds LLC increased its holdings in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after buying an additional 55 shares during the period. Larson Financial Group LLC increased its position in shares of Coinbase Global by 12.1% in the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after acquiring an additional 57 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,644 shares of company stock worth $59,887,556. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Up 2.3 %

COIN stock opened at $309.35 on Wednesday. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $230.81 and a 200-day simple moving average of $219.36. The stock has a market capitalization of $77.45 billion, a P/E ratio of 52.79 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on COIN shares. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Needham & Company LLC upped their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 18th. Oppenheimer increased their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $265.33.

About Coinbase Global

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.