Divisadero Street Capital Management LP Sells 42,521 Shares of Coinbase Global, Inc. $COIN

Divisadero Street Capital Management LP lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 81.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,000 shares of the cryptocurrency exchange’s stock after selling 42,521 shares during the period. Divisadero Street Capital Management LP’s holdings in Coinbase Global were worth $3,505,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Evelyn Partners Investment Management Europe Ltd raised its stake in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 36 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the 2nd quarter worth about $30,000. S Bank Fund Management Ltd bought a new position in shares of Coinbase Global in the 1st quarter worth about $31,000. SouthState Corp raised its position in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Finally, City State Bank acquired a new position in shares of Coinbase Global in the 2nd quarter valued at about $33,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COIN shares. JPMorgan Chase & Co. decreased their target price on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Compass Point cut their price target on Coinbase Global from $277.00 to $266.00 in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and increased their target price for the stock from $300.00 to $425.00 in a research note on Thursday, October 30th. Finally, China Renaissance raised their price target on shares of Coinbase Global from $444.60 to $479.30 in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.94.

Coinbase Global Price Performance

Shares of COIN opened at $269.73 on Monday. The business’s fifty day moving average is $315.13 and its 200 day moving average is $318.76. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. 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 stock has a market cap of $72.73 billion, a P/E ratio of 23.33 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the business posted $0.28 EPS. Coinbase Global’s quarterly revenue was up 55.1% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,500 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $273.62, for a total value of $1,504,910.00. Following the sale, the chief financial officer owned 79,320 shares in the company, valued at $21,703,538.40. This represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lawrence J. Brock sold 5,902 shares of Coinbase Global stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $250.58, for a total value of $1,478,923.16. Following the transaction, the insider owned 497 shares of the company’s stock, valued at $124,538.26. This trade represents a 92.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 728,971 shares of company stock valued at $225,494,313 over the last quarter. 16.56% of the stock is currently owned by company 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.