Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 77.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,567 shares of the cryptocurrency exchange's stock after selling 106,978 shares during the quarter. Toronto Dominion Bank's holdings in Coinbase Global were worth $5,446,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in COIN. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Coinbase Global in the second quarter worth about $333,000. Swedbank AB boosted its position in Coinbase Global by 138.9% during the second quarter. Swedbank AB now owns 45,476 shares of the cryptocurrency exchange's stock worth $10,106,000 after purchasing an additional 26,440 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Coinbase Global by 39.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,629 shares of the cryptocurrency exchange's stock valued at $584,000 after purchasing an additional 739 shares during the period. Brookstone Capital Management increased its position in shares of Coinbase Global by 7.8% in the second quarter. Brookstone Capital Management now owns 2,321 shares of the cryptocurrency exchange's stock valued at $516,000 after buying an additional 168 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of Coinbase Global by 3,000.0% during the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 150 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COIN shares. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. B. Riley started coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Canaccord Genuity Group reiterated a "buy" rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Oppenheimer raised their target price on Coinbase Global from $265.00 to $358.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $276.22.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company's stock, valued at $12,750,015.60. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,720 shares of company stock valued at $79,787,248 over the last 90 days. 23.43% of the stock is owned by company insiders.

Coinbase Global Trading Down 0.8 %

COIN traded down $2.38 during trading hours on Friday, reaching $310.58. The company's stock had a trading volume of 5,832,592 shares, compared to its average volume of 11,259,770. The stock has a market cap of $77.75 billion, a PE ratio of 53.00 and a beta of 3.57. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business's 50-day moving average is $256.88 and its 200-day moving average is $224.91.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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). The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. As a group, equities research analysts predict 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.