Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Convergence Financial LLC

Convergence Financial LLC trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.2% in the 4th quarter, HoldingsChannel reports. The firm owned 2,038 shares of the cryptocurrency exchange’s stock after selling 183 shares during the period. Convergence Financial LLC’s holdings in Coinbase Global were worth $506,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Armstrong Fleming & Moore Inc purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $233,000. National Pension Service raised its holdings in Coinbase Global by 1.6% in the fourth quarter. National Pension Service now owns 269,936 shares of the cryptocurrency exchange’s stock valued at $67,025,000 after acquiring an additional 4,290 shares in the last quarter. JFG Wealth Management LLC purchased a new position in Coinbase Global in the fourth quarter worth approximately $215,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Coinbase Global during the 4th quarter worth approximately $71,000. Finally, Amalgamated Bank increased its position in shares of Coinbase Global by 4.7% in the 4th quarter. Amalgamated Bank now owns 13,118 shares of the cryptocurrency exchange’s stock valued at $3,257,000 after purchasing an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $212.96 on Thursday. The firm has a market cap of $54.07 billion, a P/E ratio of 22.42 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The business’s 50-day moving average price is $270.68 and its 200 day moving average price is $240.71. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. JMP Securities upped their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Barclays increased their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group boosted their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $21,218,413.97. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,091 shares of company stock worth $64,162,116. Company insiders own 23.43% 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.