Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,482 shares of the cryptocurrency exchange's stock after selling 3,245 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Coinbase Global were worth $13,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $409,919,000. Renaissance Technologies LLC lifted its stake in shares of Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock worth $236,258,000 after purchasing an additional 691,288 shares in the last quarter. American Century Companies Inc. boosted its position 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 buying an additional 435,886 shares during the period. Azora Capital LP grew its stake in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock valued at $57,525,000 after buying an additional 220,078 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at about $38,535,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Oppenheimer upped their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an "outperform" rating in a report on Monday, November 25th. Piper Sandler restated a "neutral" rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 price objective for the company. Finally, Needham & Company LLC raised their target price on Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a research note on Monday. 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 MarketBeat.com, Coinbase Global presently has an average rating of "Hold" and an average price target of $276.22.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,386,983.38. This trade represents a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,220 shares of company stock valued at $80,030,608. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Coinbase Global stock traded down $0.85 during midday trading on Thursday, reaching $312.96. 8,295,912 shares of the stock traded hands, compared to its average volume of 11,282,406. The firm has a fifty day moving average price of $251.09 and a two-hundred day moving average price of $224.01. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The firm has a market cap of $78.35 billion, a price-to-earnings ratio of 53.96 and a beta of 3.56. 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 quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business 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 business's quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Coinbase Global 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.