USS Investment Management Ltd Sells 2,070 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

USS Investment Management Ltd reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,158 shares of the cryptocurrency exchange's stock after selling 2,070 shares during the quarter. USS Investment Management Ltd's holdings in Coinbase Global were worth $8,477,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. SOA Wealth Advisors LLC. lifted its holdings in shares of Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock valued at $66,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC lifted its holdings in Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after purchasing an additional 40 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. IPG Investment Advisors LLC boosted its position in Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after buying an additional 45 shares in the last quarter. Finally, Vivaldi Capital Management LP grew its stake in Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after buying an additional 47 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 1.5%

Shares of NASDAQ:COIN traded up $3.98 during midday trading on Tuesday, hitting $267.14. The company had a trading volume of 3,559,727 shares, compared to its average volume of 10,173,762. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The firm has a fifty day simple moving average of $201.06 and a 200 day simple moving average of $246.42. The stock has a market cap of $67.82 billion, a price-to-earnings ratio of 28.16 and a beta of 3.62.

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

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global 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 transaction, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,786 shares of company stock valued at $33,345,024 in the last 90 days. 17.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COIN shares. Mizuho decreased their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Needham & Company LLC lowered their target price on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced 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 report on Friday, May 9th. Benchmark increased their price objective on shares of Coinbase Global from $252.00 to $301.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $266.10.

Coinbase Global 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.