Coinbase Global, Inc. $COIN Shares Sold by GFS Advisors LLC

GFS Advisors LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 67.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,200 shares of the cryptocurrency exchange’s stock after selling 2,500 shares during the quarter. GFS Advisors LLC’s holdings in Coinbase Global were worth $421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of Coinbase Global in the second quarter valued at approximately $55,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $30,000. S Bank Fund Management Ltd acquired a new stake in shares of Coinbase Global in the first quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. increased its stake in shares of Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on COIN. Bank of America dropped their price target on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Erste Group Bank began coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They issued a “buy” rating on the stock. Rosenblatt Securities restated a “buy” rating and issued a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.12.

Insider Activity

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares of the company’s stock, valued at $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 721,764 shares of company stock valued at $273,595,798 in the last ninety days. 17.65% of the stock is owned by company insiders.

Coinbase Global Price Performance

NASDAQ COIN opened at $357.01 on Friday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm has a market capitalization of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68. The company’s 50 day simple moving average is $325.06 and its 200 day simple moving average is $287.80.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.