Rhumbline Advisers Has $44.61 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Rhumbline Advisers reduced its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 259,003 shares of the cryptocurrency exchange's stock after selling 4,400 shares during the quarter. Rhumbline Advisers owned about 0.10% of Coinbase Global worth $44,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management bought a new position in Coinbase Global during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $35,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COIN shares. Jefferies Financial Group reissued a "hold" rating and issued a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a research report on Monday, May 12th. Oppenheimer set a $293.00 price objective on shares of Coinbase Global in a research report on Thursday, May 15th. Finally, Benchmark boosted their price objective on shares of Coinbase Global from $252.00 to $301.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of "Moderate Buy" and an average target price of $266.10.

Insider Activity

In other news, insider Paul Grewal sold 12,931 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total value of $3,456,326.99. Following the transaction, the insider now owns 84,280 shares of the company's stock, valued at approximately $22,527,201.20. This represents a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,717 shares of company stock valued at $42,980,101. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $11.80 on Thursday, hitting $244.20. The company's stock had a trading volume of 11,955,459 shares, compared to its average volume of 10,153,579. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $209.73 and a two-hundred day moving average of $244.84. The firm has a market capitalization of $62.00 billion, a P/E ratio of 25.71 and a beta of 3.61. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.