Inspire Investing LLC Has $259,000 Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Inspire Investing LLC cut its position in Coinbase Global, Inc. (NASDAQ:COIN) by 34.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,044 shares of the cryptocurrency exchange’s stock after selling 543 shares during the quarter. Inspire Investing LLC’s holdings in Coinbase Global were worth $259,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COIN. Sei Investments Co. raised its holdings in shares of Coinbase Global by 22.3% during the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock worth $2,694,000 after acquiring an additional 2,212 shares during the period. AQR Capital Management LLC raised its holdings in shares of Coinbase Global by 103.8% during the second quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock worth $6,829,000 after acquiring an additional 15,652 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Coinbase Global by 639.4% during the second quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock worth $2,046,000 after acquiring an additional 7,960 shares during the period. Creative Planning raised its holdings in shares of Coinbase Global by 20.0% during the second quarter. Creative Planning now owns 50,210 shares of the cryptocurrency exchange’s stock worth $11,158,000 after acquiring an additional 8,383 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Coinbase Global by 3.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,373 shares of the cryptocurrency exchange’s stock valued at $8,528,000 after buying an additional 1,137 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global 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 in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 377,705 shares of company stock worth $112,792,687 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $281.82 on Wednesday. The company has a market capitalization of $70.55 billion, a price-to-earnings ratio of 48.09 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $288.73 and a 200 day simple moving average of $234.81. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lifted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Monness Crespi & Hardt lifted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Company 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.