Coinbase Global, Inc. (NASDAQ:COIN) Stake Cut by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the cryptocurrency exchange’s stock after selling 500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Coinbase Global were worth $1,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Banco Santander S.A. grew its position in Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC boosted its stake 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 valued at $477,000 after buying an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC increased its stake in shares of Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Coinbase Global during the second quarter worth $2,908,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.9 %

Shares of Coinbase Global stock opened at $295.48 on Friday. The company has a market cap of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company’s fifty day simple moving average is $291.21 and its 200-day simple moving average is $231.26. 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) last posted its quarterly earnings data 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Finally, Oppenheimer reduced their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $282.83.

Insiders Place Their Bets

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 20,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 124,470 shares in the company, valued at $37,341,000. This trade represents a 13.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Company 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.