Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC cut its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 58,161 shares of the cryptocurrency exchange’s stock after selling 200 shares during the period. AQR Capital Management LLC’s holdings in Coinbase Global were worth $14,441,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter worth $252,000. Savant Capital LLC purchased a new stake in Coinbase Global during the 4th quarter valued at about $591,000. Principal Financial Group Inc. raised its holdings in Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after acquiring an additional 36,843 shares during the last quarter. Sara Bay Financial purchased a new position in Coinbase Global in the 4th quarter worth approximately $230,000. Finally, Oxinas Partners Wealth Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $265,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COIN. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, HC Wainwright restated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.95.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. The trade was a 96.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the business’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 directly owns 83,313 shares of the company’s stock, valued at $16,505,971.56. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,742 shares of company stock worth $27,626,259 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 2.7 %

Shares of NASDAQ COIN opened at $199.40 on Tuesday. The stock has a market cap of $50.62 billion, a P/E ratio of 20.99 and a beta of 3.62. The business’s fifty day simple moving average is $188.23 and its 200-day simple moving average is $243.53. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 return on equity of 20.64% and a net margin of 39.34%. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.