Bank of Jackson Hole Trust Sells 50 Shares of Coinbase Global, Inc. $COIN

by · The Cerbat Gem

Bank of Jackson Hole Trust trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,345 shares of the cryptocurrency exchange’s stock after selling 50 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Coinbase Global were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of COIN. Groupama Asset Managment increased its stake in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after acquiring an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. Nuveen LLC bought a new stake in Coinbase Global during the 1st quarter valued at about $83,454,000. Amundi increased its stake in Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Coinbase Global by 2,647.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock valued at $66,572,000 after purchasing an additional 191,300 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $355.22 on Wednesday. The firm’s 50-day moving average price is $331.51 and its 200-day moving average price is $303.03. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market cap of $91.27 billion, a PE ratio of 34.35 and a beta of 3.68. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64.

Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COIN. Keefe, Bruyette & Woods reduced their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. China Renaissance reduced their price objective on shares of Coinbase Global from $481.00 to $444.60 and set a “buy” rating for the company in a research note on Tuesday. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. Finally, HC Wainwright restated a “sell” rating and set a $300.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $387.50.

Read Our Latest Stock Report on COIN

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 205,657 shares of company stock valued at $67,479,576. 23.43% of the stock is owned by insiders.

Coinbase Global Company Profile

(Free Report)

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.

Further Reading

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