Public Employees Retirement System of Ohio Trims Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Public Employees Retirement System of Ohio cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,482 shares of the cryptocurrency exchange’s stock after selling 3,245 shares during the period. Public Employees Retirement System of Ohio’s holdings in Coinbase Global were worth $13,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its holdings in Coinbase Global by 5.4% during the second quarter. Sequoia Financial Advisors LLC now owns 3,492 shares of the cryptocurrency exchange’s stock valued at $776,000 after purchasing an additional 178 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Coinbase Global by 8.5% during the 2nd quarter. Diversified Trust Co now owns 2,287 shares of the cryptocurrency exchange’s stock valued at $508,000 after buying an additional 180 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Coinbase Global in the 2nd quarter worth $333,000. J.Safra Asset Management Corp increased its stake in Coinbase Global by 592.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 180 shares of the cryptocurrency exchange’s stock worth $40,000 after buying an additional 154 shares in the last quarter. Finally, Windmill Hill Asset Management Ltd bought a new stake in Coinbase Global during the second quarter valued at about $702,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Piper Sandler restated a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Oppenheimer lifted their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $276.22.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $313.81 on Thursday. 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’s fifty day moving average is $251.09 and its 200 day moving average is $224.01. The firm has a market capitalization of $78.56 billion, a PE ratio of 53.55 and a beta of 3.56. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 the consensus estimate of $1.26 billion. During the same quarter last year, the business posted ($0.01) EPS. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the 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 sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,220 shares of company stock worth $80,030,608 over the last 90 days. Company insiders own 23.43% of the company’s stock.

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.