Vinva Investment Management Ltd Has $642,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Vinva Investment Management Ltd cut its position in Coinbase Global, Inc. (NASDAQ:COIN) by 26.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,357 shares of the cryptocurrency exchange’s stock after selling 1,229 shares during the quarter. Vinva Investment Management Ltd’s holdings in Coinbase Global were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. Empowered Funds LLC raised its position in 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 purchasing an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Coinbase Global by 9.4% during the 3rd 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 in the last quarter. Fifth Third Bancorp lifted its position in shares of Coinbase Global by 0.4% during the 2nd 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 last quarter. Versant Capital Management Inc boosted its stake in Coinbase Global by 75.0% in the second 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. Finally, Larson Financial Group LLC grew its position in Coinbase Global by 12.1% in the second 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 last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at $12,750,015.60. This represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,719 shares of company stock worth $65,309,711. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 4.8 %

Shares of NASDAQ:COIN opened at $296.20 on Friday. The business’s 50-day moving average is $228.17 and its 200-day moving average is $218.64. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $341.75. The company has a market capitalization of $74.15 billion, a price-to-earnings ratio of 50.55 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Equities research analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays increased their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. Compass Point cut their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $255.22.

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.