Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 42.6% in the fourth quarter, Holdings Channel reports. The institutional investor 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.

A number of other hedge funds have also made changes to their positions in the stock. Transcend Capital Advisors LLC bought a new position in shares of Coinbase Global in the 4th quarter worth about $427,000. Russell Investments Group Ltd. grew its position in Coinbase Global by 10.4% in the 4th quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock worth $3,142,000 after purchasing an additional 1,685 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $2,890,000. Kovack Advisors Inc. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $434,000. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Coinbase Global by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 98,975 shares of the cryptocurrency exchange’s stock worth $17,214,000 after buying an additional 1,870 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays raised their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Sanford C. Bernstein raised their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Finally, JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.81.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Paul Grewal sold 42,113 shares of the business’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 in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at $4,933,575. The disclosure for this sale can be found here. In the last three months, insiders have sold 532,208 shares of company stock worth $99,652,403. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $236.32 on Monday. 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, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a market cap of $57.25 billion, a PE ratio of 875.26 and a beta of 3.41. The stock’s 50-day moving average price is $231.74 and its two-hundred day moving average price is $162.07.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm posted ($2.46) earnings per share. On average, analysts predict that Coinbase Global, Inc. will post 2.43 EPS for the current year.

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.