Ninepoint Partners LP Sells 6,239 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Ninepoint Partners LP lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,110 shares of the cryptocurrency exchange's stock after selling 6,239 shares during the period. Coinbase Global comprises 0.3% of Ninepoint Partners LP's portfolio, making the stock its 13th largest holding. Ninepoint Partners LP's holdings in Coinbase Global were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of COIN. Vanguard Group Inc. raised its position in Coinbase Global by 1.3% during the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange's stock worth $1,041,602,000 after acquiring an additional 176,525 shares during the last quarter. Morgan Stanley raised its position in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange's stock worth $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Geode Capital Management LLC lifted its stake in Coinbase Global by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 2,341,989 shares of the cryptocurrency exchange's stock valued at $158,083,000 after buying an additional 73,036 shares in the last quarter. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter valued at $50,254,000. Finally, Northern Trust Corp increased its position in Coinbase Global by 4.3% during the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange's stock worth $67,359,000 after buying an additional 37,019 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Down 3.2 %

NASDAQ COIN traded down $7.07 during trading hours on Friday, reaching $211.01. 9,339,256 shares of the company traded hands, compared to its average volume of 13,922,040. The company has a 50 day moving average of $223.31 and a two-hundred day moving average of $154.63. The stock has a market capitalization of $51.12 billion, a PE ratio of 824.44 and a beta of 3.41. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analysts' expectations of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company's quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the company posted ($2.46) earnings per share. As a group, equities analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,257 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul Grewal sold 10,257 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the sale, the insider now owns 66,122 shares of the company's stock, valued at approximately $18,223,223.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the transaction, the director now owns 4,662 shares of the company's stock, valued at $1,281,910.14. The disclosure for this sale can be found here. Insiders have sold a total of 607,358 shares of company stock valued at $106,945,156 in the last quarter. Insiders own 33.16% of the company's stock.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, March 15th. Needham & Company LLC upped their price target on Coinbase Global from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, January 8th. Mizuho raised their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the company an "underperform" rating in a research note on Friday, April 12th. JMP Securities reaffirmed a "market outperform" rating on shares of Coinbase Global in a research report on Friday, March 22nd. Finally, Bank of America increased their price target on Coinbase Global from $92.00 to $110.00 and gave the company an "underperform" rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of "Hold" and an average target price of $165.43.

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.