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

AtonRa Partners reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,040 shares of the cryptocurrency exchange’s stock after selling 1,362 shares during the period. Coinbase Global makes up approximately 1.7% of AtonRa Partners’ holdings, making the stock its 6th largest holding. AtonRa Partners’ holdings in Coinbase Global were worth $877,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barrett & Company Inc. purchased a new position in Coinbase Global in the fourth quarter valued at about $26,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global during the 4th quarter worth approximately $33,000. Harbor Investment Advisory LLC boosted its holdings in Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares during the period. Coston McIsaac & Partners acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $52,000. Finally, Steph & Co. raised its stake in shares of Coinbase Global by 100.0% during the fourth quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COIN shares. Oppenheimer raised their price objective on shares of Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Mizuho raised their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.81.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $18.16 during midday trading on Monday, reaching $218.16. The company’s stock had a trading volume of 9,515,255 shares, compared to its average volume of 13,427,663. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The company has a market cap of $52.85 billion, a price-to-earnings ratio of 808.00 and a beta of 3.41. The company has a 50 day moving average price of $232.50 and a 200 day moving average price of $163.08. 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 (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the firm posted ($2.46) EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at $1,281,910.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 542,208 shares of company stock valued at $101,867,103. Company insiders own 33.16% of the company’s stock.

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.