Joel Isaacson & Co. LLC Sells 813 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Joel Isaacson & Co. LLC reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,678 shares of the cryptocurrency exchange’s stock after selling 813 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Coinbase Global were worth $1,190,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after buying an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after buying an additional 486,512 shares during the period. American Century Companies Inc. grew its position in Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd bought a new position in Coinbase Global during the first quarter valued at about $108,434,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $205.04 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $181.15 and a 200 day simple moving average of $210.23. Coinbase Global, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $283.48. The firm has a market cap of $50.35 billion, a P/E ratio of 40.93 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business posted ($0.42) earnings per share. The firm’s quarterly revenue was up 104.8% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright decreased their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Compass Point dropped their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group cut their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $242.82.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,187 shares of company stock valued at $13,158,294. 23.43% of the stock is currently owned by insiders.

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.