Coinbase Global, Inc. (NASDAQ:COIN) Holdings Lowered by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 89.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the cryptocurrency exchange’s stock after selling 175,500 shares during the quarter. Coinbase Global comprises approximately 2.2% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 9th largest holding. Yong Rong HK Asset Management Ltd’s holdings in Coinbase Global were worth $4,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the period. Finally, Bogart Wealth LLC lifted its stake in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 8.3 %

COIN stock opened at $235.38 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $275.76 and its 200 day moving average price is $240.11. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The company has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. 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 7,104 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. This represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 334,306 shares of company stock worth $97,300,651. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday. Barclays raised their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Mizuho dropped their price objective on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $306.17.

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.