Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,460 shares of the cryptocurrency exchange’s stock after selling 25,051 shares during the period. Commonwealth Equity Services LLC’s holdings in Coinbase Global were worth $14,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in COIN. HBK Sorce Advisory LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth about $205,000. Skandinaviska Enskilda Banken AB publ boosted its position in Coinbase Global by 0.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 37,774 shares of the cryptocurrency exchange’s stock worth $9,641,000 after purchasing an additional 249 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in Coinbase Global during the fourth quarter worth approximately $5,087,000. Vestcor Inc grew its holdings in Coinbase Global by 22.6% in the fourth quarter. Vestcor Inc now owns 10,580 shares of the cryptocurrency exchange’s stock valued at $2,627,000 after purchasing an additional 1,950 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $56,142,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of COIN stock opened at $188.96 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market capitalization of $47.97 billion, a PE ratio of 19.89 and a beta of 3.66. The firm’s 50-day moving average is $253.10 and its two-hundred day moving average is $241.15. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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 predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 target price for the company. Sanford C. Bernstein initiated coverage on shares of Coinbase Global in a research report on Monday. They set an “outperform” rating and a $310.00 price target for the company. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, JMP Securities increased their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 in the last quarter. Insiders own 23.43% of the company’s stock.

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.