Mizuho Markets Americas LLC Decreases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Mizuho Markets Americas LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 11.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,637 shares of the cryptocurrency exchange's stock after selling 12,000 shares during the quarter. Mizuho Markets Americas LLC's holdings in Coinbase Global were worth $15,792,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. APEIRON CAPITAL Ltd acquired a new position in shares of Coinbase Global during the 1st quarter worth $108,434,000. Sei Investments Co. increased its stake in shares of Coinbase Global by 41.7% in the first quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange's stock valued at $2,629,000 after buying an additional 2,920 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Coinbase Global by 28.9% in the first quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange's stock valued at $6,138,000 after buying an additional 5,189 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coinbase Global in the first quarter valued at about $394,000. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Coinbase Global by 80.0% in the first quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange's stock valued at $1,157,000 after buying an additional 1,941 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Up 9.7 %

NASDAQ:COIN traded up $27.01 on Friday, hitting $305.85. The stock had a trading volume of 18,020,587 shares, compared to its average volume of 10,975,321. The business's fifty day moving average is $198.72 and its 200 day moving average is $211.83. The company has a market cap of $76.57 billion, a PE ratio of 52.19 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $94.45 and a 52 week high of $334.86.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly 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 the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm's revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) EPS. On average, equities research analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COIN. HC Wainwright reissued a "buy" rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Piper Sandler reissued a "neutral" rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Monness Crespi & Hardt began coverage on Coinbase Global in a research note on Monday, October 28th. They issued a "buy" rating and a $245.00 price target for the company. Barclays increased their price target on Coinbase Global from $175.00 to $204.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC increased their price target on Coinbase Global from $260.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average price target of $246.28.

Insider Activity

In other news, Director Frederick R. Wilson sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $15,000,000. This trade represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. This represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,822 shares of company stock worth $30,921,194 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

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.