Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,800 shares of the cryptocurrency exchange's stock after selling 5,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Coinbase Global were worth $10,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $372,450,000. Proficio Capital Partners LLC grew its position in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after purchasing an additional 333,600 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after purchasing an additional 302,595 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COIN. William Blair started coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating on the stock. Rosenblatt Securities restated a "buy" rating and set a $300.00 target price on shares of Coinbase Global in a research report on Monday. Citigroup restated a "neutral" rating on shares of Coinbase Global in a research report on Thursday, May 8th. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. Finally, Bank of America decreased their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and an average target price of $271.88.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the sale, the insider now owns 83,313 shares of the company's stock, valued at approximately $16,505,971.56. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,538 shares of company stock valued at $51,299,116 in the last quarter. Company insiders own 17.65% of the company's stock.

Coinbase Global Stock Up 16.3%

Coinbase Global stock traded up $41.44 during midday trading on Thursday, hitting $295.29. 37,251,901 shares of the stock were exchanged, compared to its average volume of 10,255,252. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The firm has a market cap of $74.97 billion, a P/E ratio of 55.30, a P/E/G ratio of 21.52 and a beta of 3.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The company has a 50 day moving average price of $229.78 and a two-hundred day moving average price of $241.06.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results 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). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the firm earned $2.53 EPS. The business's quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side 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.