Surience Private Wealth LLC Reduces Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Surience Private Wealth LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,485 shares of the cryptocurrency exchange's stock after selling 925 shares during the quarter. Coinbase Global makes up approximately 0.7% of Surience Private Wealth LLC's portfolio, making the stock its 21st biggest position. Surience Private Wealth LLC's holdings in Coinbase Global were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new stake in Coinbase Global in the fourth quarter worth approximately $25,000. Copia Wealth Management purchased a new stake in Coinbase Global in the fourth quarter worth approximately $26,000. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after buying an additional 113 shares in the last quarter. Atala Financial Inc bought a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Finally, NBT Bank N A NY bought a new stake in Coinbase Global in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Down 5.8%

NASDAQ:COIN traded down $21.64 on Friday, reaching $353.43. 28,945,154 shares of the stock traded hands, compared to its average volume of 10,717,985. The company has a market capitalization of $89.73 billion, a price-to-earnings ratio of 66.19, a PEG ratio of 25.85 and a beta of 3.61. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $382.00. The company's fifty day simple moving average is $249.67 and its 200 day simple moving average is $241.43.

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 for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $2.53 earnings per share. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on COIN. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. William Blair began coverage on Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating for the company. Needham & Company LLC decreased their target price on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. Citigroup restated a "buy" rating on shares of Coinbase Global in a report on Wednesday. Finally, Monness Crespi & Hardt upgraded Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a report on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus target price of $291.06.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the sale, the insider now owns 83,313 shares of the company's stock, valued at approximately $16,505,971.56. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 665,915 shares of company stock worth $212,665,732. 17.65% of the stock is owned by corporate insiders.

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.