Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 756,340 shares of the cryptocurrency exchange’s stock after selling 4,748 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Coinbase Global were worth $134,757,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Public Sector Pension Investment Board raised its stake in shares of Coinbase Global by 2.0% during the third quarter. Public Sector Pension Investment Board now owns 25,678 shares of the cryptocurrency exchange’s stock worth $4,575,000 after purchasing an additional 500 shares during the last quarter. Ribbit Management Company LLC increased its stake in Coinbase Global by 4.7% in the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after buying an additional 17,650 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the 3rd quarter worth $25,000. Blueshift Asset Management LLC lifted its stake in shares of Coinbase Global by 916.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after acquiring an additional 16,998 shares during the period. Finally, Cynosure Group LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at about $4,706,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now directly owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,719 shares of company stock valued at $65,309,711 over the last quarter. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC lifted 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. Oppenheimer upped their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Mizuho increased their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $255.22.

Coinbase Global Trading Down 4.8 %

Shares of COIN stock opened at $296.20 on Monday. 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 current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $228.17 and a 200 day moving average price of $218.64. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $341.75.

Coinbase Global (NASDAQ:COIN) last announced 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). The firm had revenue of $1.21 billion for 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 posted ($0.01) EPS. Research analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

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.