Coinbase Global, Inc. (NASDAQ:COIN) Stake Lowered by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 46.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,487 shares of the cryptocurrency exchange’s stock after selling 2,174 shares during the period. HighPoint Advisor Group LLC’s holdings in Coinbase Global were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of COIN. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $536,484,000. Proficio Capital Partners LLC increased its holdings in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares during the last quarter. Geode Capital Management LLC raised its position in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Wellington Management Group LLP lifted its stake in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after acquiring an additional 302,595 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after acquiring an additional 295,313 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Rosenblatt Securities restated a “buy” rating and set a $305.00 target price on shares of Coinbase Global in a report on Wednesday, March 26th. The Goldman Sachs Group began coverage on Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target for the company. 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 report on Friday, February 14th. Finally, Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Seven research 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 company. According to MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction on Friday, January 17th. The shares were 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 approximately $3,126,037.53. The trade was a 33.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,609 shares of company stock worth $61,331,908. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 1.3 %

Coinbase Global stock opened at $174.52 on Wednesday. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 18.37 and a beta of 3.66. The business has a 50 day moving average price of $234.50 and a two-hundred day moving average price of $242.97. 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 issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.