Oak Thistle LLC Has $392,000 Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Oak Thistle LLC reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 75.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,479 shares of the cryptocurrency exchange’s stock after selling 4,471 shares during the period. Oak Thistle LLC’s holdings in Coinbase Global were worth $392,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after purchasing an additional 408,046 shares during the last quarter. Morgan Stanley raised its stake in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the last quarter. Norges Bank bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $202,936,000. a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $147,646,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Coinbase Global by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock worth $114,211,000 after purchasing an additional 37,847 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the transaction, the chief operating officer now owns 207,471 shares in the company, valued at approximately $51,071,061.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 343,641 shares of company stock valued at $76,670,568. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COIN shares. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Canaccord Genuity Group upped their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. HC Wainwright reissued a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a research note on Tuesday, June 18th. Finally, Wedbush raised their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $215.50.

Coinbase Global Price Performance

Shares of COIN stock opened at $233.37 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The firm has a market cap of $57.31 billion, a P/E ratio of 46.58 and a beta of 3.40. The business’s 50 day moving average price is $227.85 and its 200-day moving average price is $202.76.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current 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.