Richard W. Paul & Associates LLC Trims Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Richard W. Paul & Associates LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COINFree Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,235 shares of the cryptocurrency exchange’s stock after selling 1,444 shares during the quarter. Coinbase Global makes up approximately 1.0% of Richard W. Paul & Associates LLC’s holdings, making the stock its 23rd biggest holding. Richard W. Paul & Associates LLC’s holdings in Coinbase Global were worth $2,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COIN. Stratos Wealth Partners LTD. boosted its stake in shares of Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after purchasing an additional 125 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Coinbase Global by 10.0% in the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after acquiring an additional 125 shares in the last quarter. Windle Wealth LLC boosted its stake in Coinbase Global by 2.5% in the third quarter. Windle Wealth LLC now owns 5,236 shares of the cryptocurrency exchange’s stock valued at $393,000 after acquiring an additional 126 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Coinbase Global by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,030 shares of the cryptocurrency exchange’s stock valued at $378,000 after acquiring an additional 145 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Coinbase Global by 3.5% in the third quarter. D.A. Davidson & CO. now owns 4,733 shares of the cryptocurrency exchange’s stock valued at $355,000 after acquiring an additional 162 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COIN has been the subject of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Thursday, March 28th. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Mizuho lifted their price objective on shares of Coinbase Global from $60.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, February 22nd. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $144.80.

Get Our Latest Stock Report on COIN

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the completion of the sale, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $134.24, for a total transaction of $13,133,504.64. Following the completion of the sale, the director now owns 299,580 shares of the company’s stock, valued at $40,215,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at $7,462,698.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 726,615 shares of company stock valued at $112,038,692. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded up $6.93 during trading on Wednesday, hitting $252.77. 4,444,040 shares of the company’s stock were exchanged, compared to its average volume of 14,676,882. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. 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 business has a 50-day simple moving average of $195.98 and a 200-day simple moving average of $141.81. The stock has a market capitalization of $61.24 billion, a price-to-earnings ratio of 934.41 and a beta of 3.41.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the previous year, the company earned ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, research analysts forecast that Coinbase Global, Inc. will post 1.68 EPS for the current year.

About Coinbase Global

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.