Tower Research Capital LLC TRC Has $822,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Tower Research Capital LLC TRC decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 41.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,309 shares of the cryptocurrency exchange's stock after selling 2,370 shares during the period. Tower Research Capital LLC TRC's holdings in Coinbase Global were worth $822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MML Investors Services LLC boosted its stake in Coinbase Global by 16.8% during the 4th quarter. MML Investors Services LLC now owns 14,659 shares of the cryptocurrency exchange's stock valued at $3,640,000 after purchasing an additional 2,109 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Coinbase Global by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock worth $2,746,000 after purchasing an additional 55 shares during the period. Dimensional Fund Advisors LP grew its position in Coinbase Global by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 408,170 shares of the cryptocurrency exchange's stock worth $101,392,000 after purchasing an additional 7,834 shares in the last quarter. First Trust Advisors LP raised its stake in Coinbase Global by 33.8% during the 4th quarter. First Trust Advisors LP now owns 162,635 shares of the cryptocurrency exchange's stock valued at $40,382,000 after purchasing an additional 41,115 shares during the period. Finally, Emory University raised its position in Coinbase Global by 1.5% during the fourth quarter. Emory University now owns 4,376 shares of the cryptocurrency exchange's stock valued at $1,087,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Trading Down 1.6 %

Shares of NASDAQ COIN traded down $3.24 during midday trading on Wednesday, hitting $202.89. The stock had a trading volume of 4,552,384 shares, compared to its average volume of 9,668,415. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The firm has a market cap of $51.51 billion, a P/E ratio of 21.36 and a beta of 3.65. The company's 50-day simple moving average is $189.83 and its 200 day simple moving average is $243.36.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $142,540.74. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the sale, the insider now owns 83,313 shares of the company's stock, valued at $16,505,971.56. This represents a 10.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,970 shares of company stock valued at $38,672,615. 23.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several research analyst reports. HC Wainwright restated a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Barclays decreased their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a report on Tuesday, February 18th. Finally, Compass Point reissued a "sell" rating and issued a $180.00 price objective on shares of Coinbase Global in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $289.90.

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.