Savant Capital LLC Sells 308 Shares of Coinbase Global, Inc. $COIN

Savant Capital LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.0% in the second quarter, HoldingsChannel.com reports. The firm owned 2,264 shares of the cryptocurrency exchange’s stock after selling 308 shares during the quarter. Savant Capital LLC’s holdings in Coinbase Global were worth $794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in COIN. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global during the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global in the second quarter valued at about $30,000. S Bank Fund Management Ltd purchased a new position in shares of Coinbase Global in the first quarter valued at about $31,000. SouthState Corp raised its stake in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, City State Bank purchased a new stake in shares of Coinbase Global during the second quarter worth about $33,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In related news, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the sale, the chief operating officer owned 187,802 shares of the company’s stock, valued at $58,383,885.76. The trade was a 34.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $301.46, for a total transaction of $3,014,600.00. Following the completion of the sale, the director owned 204,973 shares in the company, valued at approximately $61,791,160.58. This trade represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 668,346 shares of company stock worth $211,487,225. 17.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COIN. Oppenheimer restated an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. UBS Group set a $404.00 price objective on Coinbase Global in a research report on Friday, October 24th. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Finally, President Capital lifted their price target on shares of Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $399.94.

Coinbase Global Trading Up 0.3%

COIN opened at $284.00 on Friday. The stock has a market cap of $76.58 billion, a PE ratio of 24.57 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $333.47 and a 200-day moving average of $313.75. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 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.