Intech Investment Management LLC Has $4.33 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Intech Investment Management LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,425 shares of the cryptocurrency exchange’s stock after selling 2,977 shares during the period. Intech Investment Management LLC’s holdings in Coinbase Global were worth $4,327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $409,919,000. Proficio Capital Partners LLC grew its holdings in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 10.1% during the 3rd 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. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Coinbase Global during the 4th quarter valued at $56,142,000. Finally, Azora Capital LP grew its holdings in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 4.1 %

COIN stock opened at $181.14 on Wednesday. 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, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a 50-day moving average of $251.44 and a two-hundred day moving average of $241.13. The stock has a market capitalization of $45.99 billion, a price-to-earnings ratio of 19.07 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on COIN. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $322.78.

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.