Seaview Investment Managers LLC Sells 570 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Seaview Investment Managers LLC cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 28.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,455 shares of the cryptocurrency exchange’s stock after selling 570 shares during the quarter. Seaview Investment Managers LLC’s holdings in Coinbase Global were worth $323,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its position in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after purchasing an additional 114 shares during the period. Intech Investment Management LLC raised its position in shares of Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after purchasing an additional 33,240 shares during the period. Paragon Capital Management Ltd raised its position in shares of Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after purchasing an additional 85,573 shares during the period. QRG Capital Management Inc. raised its position in shares of Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after purchasing an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. increased its position in Coinbase Global by 93.5% during the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after acquiring an additional 7,148 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Compass Point lowered their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Bank of America lowered their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, HC Wainwright lowered their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Trading Up 5.2 %

COIN opened at $155.05 on Tuesday. The company’s 50 day moving average is $209.39 and its 200-day moving average is $224.24. Coinbase Global, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $38.53 billion, a P/E ratio of 30.95 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted ($0.42) earnings per share. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. Equities research analysts predict that Coinbase Global, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the transaction, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $115,883.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the transaction, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,562 shares of company stock worth $23,241,279. Corporate 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.