Intech Investment Management LLC Has $3.64 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Intech Investment Management LLC lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 81.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,402 shares of the cryptocurrency exchange's stock after selling 86,959 shares during the quarter. Intech Investment Management LLC's holdings in Coinbase Global were worth $3,635,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in COIN. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange's stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Cowen AND Company LLC lifted its holdings in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange's stock worth $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Renaissance Technologies LLC grew its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after acquiring an additional 691,288 shares during the period. American Century Companies Inc. increased its holdings in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange's stock worth $105,389,000 after acquiring an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global during the first quarter worth about $108,434,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $304.64 on Friday. The firm's fifty day moving average price is $214.20 and its two-hundred day moving average price is $215.16. Coinbase Global, Inc. has a 1 year low of $107.98 and a 1 year high of $341.75. The firm has a market capitalization of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company's revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Insider Activity

In other news, insider Paul Grewal sold 16,962 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the 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 transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 194,091 shares of company stock valued at $50,033,426 over the last three months. Insiders own 23.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COIN. JMP Securities reissued a "market outperform" rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Compass Point dropped their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. HC Wainwright reaffirmed a "buy" rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $251.00.

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.