Parcion Private Wealth LLC Sells 34,280 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Parcion Private Wealth LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,105 shares of the cryptocurrency exchange's stock after selling 34,280 shares during the quarter. Coinbase Global accounts for approximately 3.3% of Parcion Private Wealth LLC's portfolio, making the stock its 7th largest holding. Parcion Private Wealth LLC owned about 0.09% of Coinbase Global worth $40,320,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock worth $4,573,462,000 after purchasing an additional 128,802 shares during the period. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock worth $882,822,000 after purchasing an additional 127,075 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $536,484,000. Groupama Asset Managment purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $372,450,000. Finally, Northern Trust Corp increased its holdings in Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock worth $321,488,000 after purchasing an additional 218,400 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the transaction, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the transaction, the chief financial officer owned 97,366 shares in the company, valued at $35,071,233.20. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,245,915 shares of company stock valued at $447,462,456 over the last three months. Company insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

Shares of COIN traded up $13.46 during midday trading on Friday, reaching $424.21. The stock had a trading volume of 15,032,135 shares, compared to its average volume of 11,022,997. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.41. 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 firm's 50 day moving average price is $297.88 and its 200-day moving average price is $250.10. The company has a market capitalization of $107.70 billion, a P/E ratio of 79.63, a P/E/G ratio of 30.30 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.53 EPS. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of several analyst reports. China Renaissance initiated coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price objective on the stock. Needham & Company LLC dropped their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Benchmark lifted their price objective on Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Argus initiated coverage on Coinbase Global in a research report on Monday. They issued a "buy" rating and a $400.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $313.10.

Coinbase Global Company 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.