Victory Capital Management Inc. Cuts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Victory Capital Management Inc. decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,639 shares of the cryptocurrency exchange's stock after selling 21,807 shares during the period. Victory Capital Management Inc.'s holdings in Coinbase Global were worth $7,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. Fountainhead AM LLC lifted its holdings in Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange's stock worth $688,000 after acquiring an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Coinbase Global by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange's stock worth $2,561,000 after buying an additional 81 shares during the last quarter. Arkadios Wealth Advisors raised its position in Coinbase Global by 2.6% in the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange's stock worth $590,000 after acquiring an additional 86 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Coinbase Global by 2.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange's stock valued at $669,000 after acquiring an additional 90 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Coinbase Global by 34.5% during the 4th quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange's stock valued at $61,000 after acquiring an additional 90 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company's stock, valued at approximately $12,585,661.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Alesia J. Haas sold 64,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the transaction, the chief financial officer now owns 219,490 shares of the company's stock, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 42,113 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares of the company's stock, valued at $12,585,661.48. The disclosure for this sale can be found here. Insiders sold a total of 354,847 shares of company stock worth $81,473,390 in the last three months. 33.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on COIN. Wedbush upped their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Citigroup boosted their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a "neutral" rating in a research note on Friday, January 19th. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday, May 3rd. Singular Research reissued a "buy" rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Finally, Needham & Company LLC cut their price objective on shares of Coinbase Global from $275.00 to $260.00 and set a "buy" rating for the company in a report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $200.63.

Coinbase Global Trading Up 1.8 %

COIN traded up $3.54 during trading on Tuesday, hitting $203.05. 5,334,117 shares of the stock traded hands, compared to its average volume of 12,839,735. The firm has a market capitalization of $49.86 billion, a P/E ratio of 40.53 and a beta of 3.46. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day moving average of $236.71 and a 200 day moving average of $173.65.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analysts' expectations of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Coinbase Global's quarterly revenue was up 51.6% on a year-over-year basis. During the same period last year, the firm earned ($2.46) earnings per share. Equities research analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.

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.