Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the cryptocurrency exchange’s stock after selling 1,000 shares during the period. UniSuper Management Pty Ltd’s holdings in Coinbase Global were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global during the 4th quarter valued at approximately $50,000. Finally, Bogart Wealth LLC lifted its stake in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Down 1.0 %

Shares of Coinbase Global stock opened at $172.23 on Tuesday. 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’s 50 day simple moving average is $236.90 and its 200-day simple moving average is $242.89. The stock has a market cap of $43.73 billion, a P/E ratio of 18.13 and a beta of 3.66. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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%. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COIN shares. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Mizuho lowered their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group initiated coverage on Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

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.