Two Sigma Advisers LP Sells 734,500 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Two Sigma Advisers LP trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 90.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,900 shares of the cryptocurrency exchange’s stock after selling 734,500 shares during the period. Two Sigma Advisers LP’s holdings in Coinbase Global were worth $13,345,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position 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 purchasing an additional 43 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares during the period. Fifth Third Bancorp raised its stake in shares of Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after buying an additional 55 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Coinbase Global by 12.1% during the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after acquiring an additional 57 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Coinbase Global by 3.1% during 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 period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 74,956 shares in the company, valued at $12,750,015.60. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 272,220 shares of company stock valued at $80,030,608 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 7.2 %

NASDAQ COIN opened at $343.62 on Monday. The stock has a market capitalization of $86.03 billion, a P/E ratio of 58.64 and a beta of 3.57. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average of $242.71 and a 200-day moving average of $222.34.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 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 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 business 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, equities research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Needham & Company LLC boosted their price target on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Mizuho upped their price target on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. One 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $265.33.

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.