Headlands Technologies LLC Sells 3,770 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Headlands Technologies LLC lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 52.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,420 shares of the cryptocurrency exchange’s stock after selling 3,770 shares during the period. Headlands Technologies LLC’s holdings in Coinbase Global were worth $595,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $201,000. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in shares of Coinbase Global by 7.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock worth $1,193,000 after acquiring an additional 1,043 shares during the period. Golden State Equity Partners purchased a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $213,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Coinbase Global by 5.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange’s stock worth $2,515,000 after buying an additional 1,800 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Coinbase Global by 5.6% in the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock worth $470,000 after buying an additional 333 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC upped their price objective on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Piper Sandler raised their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Bank of America lifted their target price on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Finally, TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $165.43.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded up $12.71 during mid-day trading on Friday, hitting $236.32. The stock had a trading volume of 6,044,874 shares, compared to its average volume of 8,468,571. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average of $231.74 and a two-hundred day moving average of $160.91. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48. The firm has a market cap of $57.25 billion, a PE ratio of 875.26 and a beta of 3.41.

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

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 42,113 shares of the stock in a transaction dated 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 sale, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 532,208 shares of company stock valued at $99,652,403. 33.16% of the stock is owned by insiders.

Coinbase Global Company 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.