Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by PDT Partners LLC

PDT Partners LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 85.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,900 shares of the cryptocurrency exchange’s stock after selling 16,625 shares during the quarter. PDT Partners LLC’s holdings in Coinbase Global were worth $517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth $25,000. Crewe Advisors LLC boosted its stake in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Coinbase Global in the 2nd quarter worth about $29,000. Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% in the 2nd 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 during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at about $32,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $265.33.

Coinbase Global Trading Up 2.1 %

NASDAQ COIN opened at $302.40 on Tuesday. The stock has a market cap of $75.71 billion, a P/E ratio of 51.60 and a beta of 3.34. The company’s fifty day simple moving average is $228.17 and its 200-day simple moving average is $218.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $341.75.

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

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of the company’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 sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated 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 transaction, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,644 shares of company stock valued at $59,887,556. Insiders own 23.43% of the company’s stock.

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.