Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Touchstone Capital Inc.

Touchstone Capital Inc. lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 55,965 shares of the cryptocurrency exchange’s stock after selling 1,618 shares during the quarter. Coinbase Global comprises 9.2% of Touchstone Capital Inc.’s holdings, making the stock its 5th largest holding. Touchstone Capital Inc.’s holdings in Coinbase Global were worth $9,733,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Schechter Investment Advisors LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $392,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $502,000. Keystone Wealth Services LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $319,000. Kingswood Wealth Advisors LLC bought a new position in Coinbase Global during the 4th quarter worth about $283,000. Finally, Raymond James & Associates increased its holdings in Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.3 %

Shares of COIN opened at $265.12 on Friday. The firm’s 50 day moving average is $188.26 and its 200-day moving average is $137.37. The stock has a market capitalization of $64.23 billion, a PE ratio of 981.93 and a beta of 3.36. 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) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The firm 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 revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 1.68 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on COIN shares. Wedbush increased their target price on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Mizuho increased their price objective on shares of Coinbase Global from $60.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. raised their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. 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. Finally, TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.30.

Insider Transactions at Coinbase Global

In related news, Director Marc L. Andreessen sold 33,992 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $163.91, for a total value of $5,571,628.72. Following the transaction, the director now owns 4,662 shares in the company, valued at $764,148.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $274.97, for a total value of $4,504,008.60. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $1,281,910.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marc L. Andreessen sold 33,992 shares of Coinbase Global stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $764,148.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 759,107 shares of company stock worth $117,220,321. Company insiders own 33.16% of the company’s stock.

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.