Vienna Asset Management LLC Cuts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Vienna Asset Management LLC lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 80.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,218 shares of the cryptocurrency exchange's stock after selling 8,914 shares during the period. Vienna Asset Management LLC's holdings in Coinbase Global were worth $551,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Sphera Management Technology Funds Ltd bought a new position in shares of Coinbase Global during the fourth quarter valued at $497,000. Visionary Wealth Advisors raised its stake in shares of Coinbase Global by 5.0% during the fourth quarter. Visionary Wealth Advisors now owns 1,403 shares of the cryptocurrency exchange's stock valued at $348,000 after acquiring an additional 67 shares during the last quarter. Vivaldi Capital Management LP raised its stake in shares of Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after acquiring an additional 47 shares during the last quarter. Twinbeech Capital LP bought a new position in shares of Coinbase Global during the fourth quarter valued at $339,000. Finally, Two Sigma Advisers LP raised its stake in shares of Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after acquiring an additional 333,600 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Activity

In related news, insider Paul Grewal sold 10,978 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $104,226.90. This trade represents a 95.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock worth $35,671,592 over the last three months. 17.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Rosenblatt Securities reaffirmed a "buy" rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, May 12th. Mizuho lowered their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus target price of $266.40.

Coinbase Global Stock Up 5.0%

NASDAQ:COIN traded up $12.96 during trading hours on Thursday, reaching $271.95. The company had a trading volume of 15,565,837 shares, compared to its average volume of 10,200,496. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $69.04 billion, a price-to-earnings ratio of 28.63 and a beta of 3.62. The business's 50-day simple moving average is $196.29 and its two-hundred day simple moving average is $245.52. 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 issued its quarterly earnings data 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.