UniSuper Management Pty Ltd Lowers Stake in Coinbase Global, Inc. (NASDAQ:COIN)

UniSuper Management Pty Ltd decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,700 shares of the cryptocurrency exchange’s stock after selling 1,000 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Coinbase Global were worth $919,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in Coinbase Global during the fourth quarter worth about $252,000. Virtu Financial LLC purchased a new stake in Coinbase Global during the third quarter worth about $3,866,000. Savant Capital LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $591,000. Finally, XTX Topco Ltd boosted its stake in shares of Coinbase Global by 818.2% in the third quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock valued at $2,346,000 after purchasing an additional 11,733 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COIN. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Barclays increased their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Mizuho lowered their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. Finally, Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Trading Down 1.0 %

NASDAQ:COIN opened at $172.23 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The stock’s 50 day moving average price is $236.90 and its 200 day moving average price is $242.89. The company has a market capitalization of $43.73 billion, a PE ratio of 18.13 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is owned by company 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.