Public Employees Retirement System of Ohio Sells 1,895 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Public Employees Retirement System of Ohio reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,587 shares of the cryptocurrency exchange's stock after selling 1,895 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Coinbase Global were worth $18,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. lifted its holdings in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock worth $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after acquiring an additional 40 shares during the period. Yousif Capital Management LLC grew its position in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock worth $635,000 after acquiring an additional 44 shares during the last quarter. IPG Investment Advisors LLC increased its holdings in shares of Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after acquiring an additional 45 shares during the period. Finally, Vivaldi Capital Management LP lifted its position in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Trading Down 1.1%

COIN traded down $2.78 during trading on Friday, reaching $246.07. The company had a trading volume of 3,129,898 shares, compared to its average volume of 10,156,411. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The company has a market cap of $62.47 billion, a price-to-earnings ratio of 25.92 and a beta of 3.62. The firm's 50-day simple moving average is $204.79 and its 200 day simple moving average is $246.09.

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

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 1,952 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total value of $488,000.00. Following the transaction, the insider now owns 81,773 shares in the company, valued at approximately $20,443,250. This represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on 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 owns 114,866 shares of the company's stock, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,717 shares of company stock valued at $36,801,351. Corporate insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Citigroup restated a "neutral" rating on shares of Coinbase Global in a research report on Thursday, May 8th. Barclays increased their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Needham & Company LLC dropped their target price on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Oppenheimer set a $293.00 target price on Coinbase Global in a research report on Thursday, May 15th. Eleven research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $266.10.

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.