Itau Unibanco Holding S.A. Sells 864 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Itau Unibanco Holding S.A. lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 30.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,941 shares of the cryptocurrency exchange’s stock after selling 864 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coinbase Global were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $25,000. Crewe Advisors LLC grew its stake in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $32,000. Spirit of America Management Corp NY purchased a new stake in Coinbase Global during the 2nd quarter valued at about $33,000. Finally, Continuum Advisory LLC increased its stake in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 150 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 2.3 %

NASDAQ:COIN opened at $309.35 on Wednesday. The business has a fifty day moving average price of $230.81 and a 200-day moving average price of $219.36. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $77.45 billion, a price-to-earnings ratio of 52.79 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. One 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $265.33.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,644 shares of company stock valued at $59,887,556 in the last three months. Corporate insiders own 23.43% of the company’s stock.

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.