Summit Trail Advisors LLC Reduces Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Summit Trail Advisors LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 23.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,201 shares of the cryptocurrency exchange's stock after selling 23,994 shares during the quarter. Summit Trail Advisors LLC's holdings in Coinbase Global were worth $13,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COIN. Barrett & Company Inc. bought a new position in Coinbase Global in the fourth quarter worth approximately $26,000. AlphaMark Advisors LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth $33,000. Signature Resources Capital Management LLC bought a new stake in Coinbase Global during the fourth quarter valued at about $39,000. Harbor Investment Advisory LLC boosted its position in Coinbase Global by 68.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange's stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. Finally, Coston McIsaac & Partners purchased a new position in Coinbase Global in the fourth quarter valued at about $52,000. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

COIN stock traded down $12.59 during mid-day trading on Tuesday, reaching $214.34. 8,133,672 shares of the company's stock were exchanged, compared to its average volume of 13,232,719. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The stock's 50 day moving average is $237.03 and its 200 day moving average is $168.14. The company has a market cap of $51.93 billion, a price-to-earnings ratio of 44.19 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business's revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS. On average, research analysts expect that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James upgraded shares of Coinbase Global from an "underperform" rating to a "market perform" rating in a report on Tuesday, March 12th. Citigroup raised their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the company a "neutral" rating in a research note on Friday, January 19th. HC Wainwright upped their price target on Coinbase Global from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, April 29th. Barclays increased their price objective on Coinbase Global from $179.00 to $204.00 and gave the company an "underweight" rating in a report on Monday. Finally, Piper Sandler boosted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $193.85.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $117,892.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $117,892.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total transaction of $322,500.00. Following the sale, the chief operating officer now directly owns 213,851 shares of the company's stock, valued at approximately $45,977,965. The disclosure for this sale can be found here. Insiders sold 443,672 shares of company stock valued at $91,225,662 over the last 90 days. Corporate insiders own 33.16% of the company's stock.

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.