Cape Investment Advisory Inc. Sells 49 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cape Investment Advisory Inc. lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305 shares of the cryptocurrency exchange’s stock after selling 49 shares during the period. Cape Investment Advisory Inc.’s holdings in Coinbase Global were worth $76,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Wilmar Advisors LLC bought a new position in Coinbase Global in the 4th quarter worth approximately $621,000. Metis Global Partners LLC raised its position in Coinbase Global by 55.3% in the 4th quarter. Metis Global Partners LLC now owns 4,065 shares of the cryptocurrency exchange’s stock worth $1,009,000 after purchasing an additional 1,447 shares during the last quarter. US Bancorp DE raised its position in Coinbase Global by 2.9% in the 4th quarter. US Bancorp DE now owns 8,010 shares of the cryptocurrency exchange’s stock worth $1,989,000 after purchasing an additional 224 shares during the last quarter. SVB Wealth LLC bought a new position in Coinbase Global in the 4th quarter worth approximately $894,000. Finally, Flputnam Investment Management Co. acquired a new stake in Coinbase Global during the 4th quarter worth $3,057,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $215.73 on Monday. The firm has a market cap of $54.77 billion, a PE ratio of 22.71 and a beta of 3.61. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a fifty day moving average price of $268.11 and a 200 day moving average price of $241.26.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 227,069 shares of company stock valued at $63,431,584. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Barclays lifted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Mizuho lowered their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Piper Sandler lifted their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $311.56.

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.