Praxis Investment Management Inc. Lowers Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Praxis Investment Management Inc. cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,260 shares of the cryptocurrency exchange's stock after selling 1,600 shares during the period. Praxis Investment Management Inc.'s holdings in Coinbase Global were worth $561,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KCM Investment Advisors LLC purchased a new stake in Coinbase Global during the 4th quarter worth approximately $507,000. Principal Securities Inc. grew its stake in shares of Coinbase Global by 35.3% in the fourth quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange's stock worth $256,000 after acquiring an additional 269 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Coinbase Global by 10.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock worth $610,000 after acquiring an additional 232 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Coinbase Global by 87.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after acquiring an additional 1,561 shares during the period. Finally, Truist Financial Corp boosted its holdings in Coinbase Global by 18.8% in the fourth quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange's stock valued at $1,633,000 after purchasing an additional 1,040 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $308.38 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The stock has a market cap of $78.29 billion, a P/E ratio of 57.75, a P/E/G ratio of 22.47 and a beta of 3.61. The stock has a 50 day moving average of $232.43 and a two-hundred day moving average of $240.43. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 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 analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the completion of the sale, the director now directly owns 10,417 shares of the company's stock, valued at approximately $2,718,628.66. This trade represents a 59.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business'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 value of $1,981,200.00. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,538 shares of company stock worth $51,299,116. 17.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. JMP Securities restated a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a report on Thursday, May 8th. Jefferies Financial Group restated a "hold" rating and set a $260.00 target price (up from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Canaccord Genuity Group reiterated a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, May 9th. Cantor Fitzgerald started coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $271.88.

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.

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