Vinva Investment Management Ltd Cuts Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Vinva Investment Management Ltd trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 33.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,235 shares of the cryptocurrency exchange’s stock after selling 1,122 shares during the quarter. Vinva Investment Management Ltd’s holdings in Coinbase Global were worth $571,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares in the last quarter. Prospera Financial Services Inc increased its holdings in Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock worth $353,000 after acquiring an additional 68 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coinbase Global in the 3rd quarter worth $809,000. Charles Schwab Investment Management Inc. increased its holdings in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after acquiring an additional 52,856 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Coinbase Global by 46.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 375,600 shares of the cryptocurrency exchange’s stock worth $66,921,000 after acquiring an additional 119,259 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 0.3 %

NASDAQ COIN opened at $189.86 on Friday. The firm’s 50-day moving average is $247.26 and its two-hundred day moving average is $240.47. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America cut their price target 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. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Rosenblatt Securities started coverage on shares of Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 20,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the sale, the chief financial officer now directly owns 124,470 shares in the company, valued at $37,341,000. This represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the sale, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock valued at $60,955,968 over the last 90 days. 23.43% 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.