Coinbase Global, Inc. (NASDAQ:COIN) is Yong Rong HK Asset Management Ltd’s 9th Largest Position

Yong Rong HK Asset Management Ltd decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 89.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,000 shares of the cryptocurrency exchange’s stock after selling 175,500 shares during the period. Coinbase Global accounts for approximately 2.2% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 9th largest holding. Yong Rong HK Asset Management Ltd’s holdings in Coinbase Global were worth $4,966,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter worth approximately $25,000. Bogart Wealth LLC grew its holdings in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the period. Finally, Spirit of America Management Corp NY increased its position in Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on COIN shares. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Mizuho decreased their target price on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $306.17.

Coinbase Global Stock Performance

Shares of COIN opened at $235.38 on Friday. The firm has a market cap of $59.76 billion, a price-to-earnings ratio of 24.78 and a beta of 3.61. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $275.76 and its two-hundred day moving average is $240.11. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $161,639.80. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 7,104 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 334,306 shares of company stock worth $97,300,651. 23.43% of the stock is currently owned by corporate insiders.

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.