Jefferies Financial Group Inc. Has $434,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in Coinbase Global by 96.8%, selling 77,339 shares and now holding only 2,518 shares valued at approximately $434,000.
• Institutional investors and hedge funds collectively own 68.84% of Coinbase Global's stock, with Two Sigma Advisers LP and Wellington Management Group LLP making substantial increases to their positions in the fourth quarter.
• Coinbase's CFO and CEO each sold a considerable number of shares recently, with CFO Alesia J. Haas selling 3,000 shares and CEO Brian Armstrong selling 25,000 shares, indicating insider selling activity amidst fluctuating stock prices.

Jefferies Financial Group Inc. trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 96.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,518 shares of the cryptocurrency exchange's stock after selling 77,339 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Coinbase Global were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP grew its stake in shares of Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares in the last quarter. Wellington Management Group LLP lifted its stake in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after acquiring an additional 302,595 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Coinbase Global by 29.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange's stock valued at $243,118,000 after acquiring an additional 222,789 shares during the period. Northern Trust Corp increased its stake in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock worth $321,488,000 after purchasing an additional 218,400 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Coinbase Global by 18,515.4% in the 1st quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange's stock valued at $33,312,000 after purchasing an additional 192,375 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director owned 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer owned 526 shares in the company, valued at $190,732.86. This represents a 99.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,208,340 shares of company stock worth $442,911,206. Insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

NASDAQ COIN traded down $0.25 during midday trading on Friday, hitting $310.54. The company had a trading volume of 9,219,479 shares, compared to its average volume of 15,007,430. The firm has a 50-day moving average price of $332.88 and a 200-day moving average price of $260.08. The company has a market capitalization of $79.79 billion, a PE ratio of 30.03, a P/E/G ratio of 26.87 and a beta of 3.70. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the subject of a number of research analyst reports. Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. China Renaissance started coverage on Coinbase Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price for the company. William Blair assumed coverage on Coinbase Global in a research note on Wednesday, June 11th. They issued an "outperform" rating on the stock. Williams Trading set a $405.00 price target on Coinbase Global in a report on Thursday, July 31st. Finally, Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $352.18.

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.