Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,104 shares of the cryptocurrency exchange's stock after selling 2,201 shares during the quarter. Sanctuary Advisors LLC's holdings in Coinbase Global were worth $1,800,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COIN. Banco Santander S.A. raised its stake in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange's stock valued at $26,531,000 after buying an additional 16,737 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange's stock worth $477,000 after acquiring 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 worth about $29,756,000. Lindbrook Capital LLC lifted its stake in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Coinbase Global by 237.5% in the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange's stock valued at $5,834,000 after purchasing an additional 23,040 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $3,386,983.38. This trade represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 270,720 shares of company stock valued at $79,787,248. 23.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent analyst reports. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. JMP Securities reissued a "market outperform" rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Barclays lifted their price target 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 given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $286.22.

Coinbase Global Stock Performance

NASDAQ:COIN traded up $4.79 during mid-day trading on Friday, reaching $278.71. The stock had a trading volume of 9,711,982 shares, compared to its average volume of 11,246,133. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The business has a 50 day simple moving average of $267.14 and a 200 day simple moving average of $226.79. The firm has a market capitalization of $69.78 billion, a price-to-earnings ratio of 47.56 and a beta of 3.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned ($0.01) earnings per share. The firm's quarterly revenue was up 78.8% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

About Coinbase Global

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.