Coinbase Global, Inc. (NASDAQ:COIN) Stake Lessened by Ethic Inc.

Ethic Inc. trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,300 shares of the cryptocurrency exchange’s stock after selling 1,640 shares during the quarter. Ethic Inc.’s holdings in Coinbase Global were worth $2,806,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $50,000. Finally, BNP Paribas bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Finally, Barclays reiterated an “equal weight” rating on shares of Coinbase Global in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $268.65.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $144,786.76. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 107,291 shares in the company, valued at approximately $21,458,200. This trade represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,742 shares of company stock valued at $32,639,759. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Stock Down 3.4%

COIN stock opened at $199.47 on Monday. The firm’s 50-day moving average is $187.38 and its two-hundred day moving average is $243.30. The company has a market capitalization of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week 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 announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 EPS. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.