HighPoint Advisor Group LLC Sells 2,174 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

HighPoint Advisor Group LLC lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 46.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,487 shares of the cryptocurrency exchange’s stock after selling 2,174 shares during the period. HighPoint Advisor Group LLC’s holdings in Coinbase Global were worth $664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COIN. Wellington Management Group LLP grew its holdings in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $252,000. Virtu Financial LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $3,866,000. Savant Capital LLC bought a new position in Coinbase Global in the 4th quarter worth approximately $591,000. Finally, XTX Topco Ltd lifted its holdings in Coinbase Global by 818.2% during the 3rd quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock worth $2,346,000 after buying an additional 11,733 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Up 1.3 %

NASDAQ:COIN opened at $174.52 on Wednesday. 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 twelve month low of $146.12 and a twelve month high of $349.75. The company has a market cap of $44.31 billion, a P/E ratio of 18.37 and a beta of 3.66. The business has a 50 day moving average price of $234.50 and a two-hundred day moving average price of $242.97.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COIN. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Canaccord Genuity Group upped their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,978 shares of the firm’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 trade represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. This trade represents a 95.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is owned by insiders.

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.