Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 77.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,567 shares of the cryptocurrency exchange’s stock after selling 106,978 shares during the period. Toronto Dominion Bank’s holdings in Coinbase Global were worth $5,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. grew its position in Coinbase Global by 17.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange’s stock valued at $517,000 after acquiring an additional 402 shares in the last quarter. Geode Capital Management LLC increased its stake in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the period. M&T Bank Corp lifted its holdings in Coinbase Global by 18.3% during the 3rd quarter. M&T Bank Corp now owns 7,100 shares of the cryptocurrency exchange’s stock worth $1,265,000 after buying an additional 1,100 shares in the last quarter. MML Investors Services LLC boosted its position in Coinbase Global by 47.3% in the 3rd quarter. MML Investors Services LLC now owns 12,550 shares of the cryptocurrency exchange’s stock valued at $2,236,000 after buying an additional 4,032 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Coinbase Global in the third quarter worth $1,244,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 270,720 shares of company stock worth $79,787,248. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $310.58 on Friday. The company has a fifty day moving average of $256.88 and a two-hundred day moving average of $225.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a market capitalization of $77.75 billion, a PE ratio of 53.00 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COIN shares. Piper Sandler reiterated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC increased their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $276.22.

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.