Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Ethic Inc.

Ethic Inc. trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,300 shares of the cryptocurrency exchange's stock after selling 1,640 shares during the period. Ethic Inc.'s holdings in Coinbase Global were worth $2,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth $50,000. Finally, BNP Paribas purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $50,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Benchmark started coverage on shares of Coinbase Global in a research report on Wednesday, April 23rd. They set a "buy" rating and a $252.00 target price for the company. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday. Mizuho cut their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, Needham & Company LLC restated a "buy" rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight 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 "Hold" and an average price target of $268.65.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $105,484.04. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the sale, the insider now directly owns 83,313 shares of the company's stock, valued at $16,505,971.56. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,742 shares of company stock valued at $32,639,759. 17.65% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Down 3.4%

Shares of COIN opened at $199.47 on Monday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company's fifty day moving average is $187.38 and its two-hundred day moving average is $243.30. The firm has a market cap of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. 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 (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global's revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $2.53 EPS. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.

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