Public Employees Retirement System of Ohio Decreases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Public Employees Retirement System of Ohio decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,468 shares of the cryptocurrency exchange’s stock after selling 4,511 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Coinbase Global were worth $17,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Barrett & Company Inc. acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Concord Wealth Partners boosted its holdings in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Coinbase Global during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on COIN. HC Wainwright reissued a “buy” rating and set a $315.00 price objective on shares of Coinbase Global in a research report on Tuesday, June 18th. Piper Sandler boosted their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Barclays reduced their price objective on Coinbase Global from $204.00 to $196.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Sanford C. Bernstein boosted their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods increased their price target on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $237.50.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $236.98 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $235.48 and its 200 day moving average price is $212.96. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The stock has a market cap of $58.20 billion, a price-to-earnings ratio of 46.75 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $380,530.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $380,530.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares in the company, valued at $41,901,248.27. The disclosure for this sale can be found here. Insiders have sold 280,176 shares of company stock worth $60,913,978 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global 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.