Surience Private Wealth LLC Has $428,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Surience Private Wealth LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 27.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,485 shares of the cryptocurrency exchange’s stock after selling 925 shares during the period. Coinbase Global accounts for 0.7% of Surience Private Wealth LLC’s portfolio, making the stock its 21st largest holding. Surience Private Wealth LLC’s holdings in Coinbase Global were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global in the fourth quarter worth approximately $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the fourth quarter worth approximately $26,000. Atala Financial Inc acquired a new position in Coinbase Global in the fourth quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global in the fourth quarter worth approximately $35,000. Finally, Brooklands Fund Management Ltd acquired a new position in Coinbase Global in the fourth quarter worth approximately $37,245,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Benchmark upped their target price on Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Needham & Company LLC decreased their target price on Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, May 9th. JMP Securities reaffirmed a “market outperform” rating and set a $400.00 target price on shares of Coinbase Global in a research report on Wednesday. Finally, Barclays upped their target price on Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.06.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total value of $1,080,600.00. Following the transaction, the chief financial officer now directly owns 97,366 shares of the company’s stock, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 665,915 shares of company stock worth $212,665,732 over the last quarter. Company insiders own 17.65% of the company’s stock.

Coinbase Global Stock Down 5.8%

COIN opened at $353.43 on Friday. The company has a market capitalization of $89.73 billion, a P/E ratio of 66.19, a P/E/G ratio of 27.43 and a beta of 3.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The firm’s fifty day moving average price is $249.67 and its two-hundred day moving average price is $241.93. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $382.00.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The business 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 20.25% and a net margin of 21.14%. Coinbase Global’s revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.53 earnings per share. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current 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.