Intellectus Partners LLC Lowers Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Intellectus Partners LLC reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 42.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,445 shares of the cryptocurrency exchange's stock after selling 4,040 shares during the quarter. Intellectus Partners LLC's holdings in Coinbase Global were worth $947,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barrett & Company Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $26,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC lifted its holdings in shares of Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange's stock worth $43,000 after purchasing an additional 100 shares during the last quarter. Coston McIsaac & Partners acquired a new position in Coinbase Global during the 4th quarter valued at approximately $52,000. Finally, Steph & Co. lifted its stake in Coinbase Global by 100.0% in the fourth quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange's stock valued at $52,000 after buying an additional 150 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

NASDAQ:COIN traded down $18.16 during mid-day trading on Monday, hitting $218.16. The company's stock had a trading volume of 9,515,255 shares, compared to its average volume of 13,427,663. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $232.50 and a 200-day moving average of $163.08. The company has a market capitalization of $52.85 billion, a price-to-earnings ratio of 808.00 and a beta of 3.41. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its 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. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same quarter last year, the company earned ($2.46) EPS. Coinbase Global's revenue was up 51.6% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on COIN. Canaccord Genuity Group reissued a "buy" rating and set a $240.00 target price on shares of Coinbase Global in a research note on Thursday, March 28th. The Goldman Sachs Group upgraded Coinbase Global from a "sell" rating to a "neutral" rating in a report on Friday, March 8th. JMP Securities reissued a "market outperform" rating on shares of Coinbase Global in a research report on Friday, March 22nd. Mizuho raised their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an "underperform" rating in a research note on Friday, April 12th. Finally, Raymond James upgraded shares of Coinbase Global from an "underperform" rating to a "market perform" rating in a research note on Tuesday, March 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $167.81.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the transaction, the insider now directly owns 66,122 shares of the company's stock, valued at approximately $14,644,039.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Emilie Choi sold 700 shares of the business's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the completion of the transaction, the chief operating officer now owns 225,142 shares in the company, valued at approximately $29,333,751.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 542,208 shares of company stock valued at $101,867,103. 33.16% of the stock is owned by 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.