Brooklyn Investment Group Cuts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Brooklyn Investment Group cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 61.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 672 shares of the cryptocurrency exchange’s stock after selling 1,088 shares during the quarter. Brooklyn Investment Group’s holdings in Coinbase Global were worth $167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banco Santander S.A. grew its stake in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the period. Global Retirement Partners LLC increased its holdings in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after buying an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at approximately $29,756,000. Lindbrook Capital LLC boosted its stake in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $2,908,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.9 %

Shares of COIN stock opened at $295.48 on Friday. The firm’s 50-day simple moving average is $291.21 and its 200-day simple moving average is $231.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The firm has a market cap of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research analyst reports. Oppenheimer decreased their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Finally, Barclays lifted their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average target price of $282.83.

Insider Activity at Coinbase Global

In related news, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is 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.