Hel Ved Capital Management Ltd Lowers Position in Coinbase Global, Inc. (NASDAQ:COIN)

Hel Ved Capital Management Ltd decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 84.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,972 shares of the cryptocurrency exchange’s stock after selling 106,100 shares during the quarter. Coinbase Global accounts for approximately 1.5% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 20th largest position. Hel Ved Capital Management Ltd’s holdings in Coinbase Global were worth $4,959,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares during the last quarter. Norges Bank purchased a new position in Coinbase Global in the fourth quarter worth $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global in the fourth quarter valued at $372,450,000. Finally, Charles Schwab Investment Management Inc. raised its position in Coinbase Global by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after purchasing an additional 15,954 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,978 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $104,226.90. This trade represents a 95.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,609 shares of company stock worth $52,238,258. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on COIN shares. Canaccord Genuity Group increased their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $305.00 price objective on shares of Coinbase Global in a research note on Wednesday, March 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $160.55 on Friday. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The stock has a market capitalization of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.66. The company’s 50-day moving average is $226.99 and its 200 day moving average is $242.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.