Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Trimmed by Ground Swell Capital LLC

Ground Swell Capital LLC decreased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 82.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,233 shares of the cryptocurrency exchange's stock after selling 5,681 shares during the period. Ground Swell Capital LLC's holdings in Coinbase Global were worth $306,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COIN. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the 4th quarter worth $27,000. Atala Financial Inc bought a new position in Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $50,000. Finally, BNP Paribas acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Monness Crespi & Hardt lowered Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Tuesday. Cantor Fitzgerald started coverage on Coinbase Global in a research note on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price for the company. Barclays reissued an "equal weight" rating on shares of Coinbase Global in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective on the stock. Finally, Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of "Hold" and an average target price of $268.65.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the transaction, the insider now owns 83,313 shares of the company's stock, valued at approximately $16,505,971.56. This trade represents a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at $144,786.76. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,742 shares of company stock valued at $32,639,759. Insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $199.47 on Friday. 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 firm has a market capitalization of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62. The company has a 50 day simple moving average of $187.38 and a 200-day simple moving average of $242.76. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its 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). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the previous year, the company earned $2.53 EPS. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.