CAP Partners LLC Cuts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

CAP Partners LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 39.2% in the fourth quarter, Holdings Channel reports. The firm owned 3,766 shares of the cryptocurrency exchange’s stock after selling 2,425 shares during the period. CAP Partners LLC’s holdings in Coinbase Global were worth $935,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $409,919,000. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the period. Azora Capital LP raised its stake in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the period. Holocene Advisors LP acquired a new position in shares of Coinbase Global during the third quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global in the third quarter valued at $29,756,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 361,798 shares of company stock valued at $107,826,444. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Needham & Company LLC cut their price target on Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday. Piper Sandler raised their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Monness Crespi & Hardt lifted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $284.06.

Coinbase Global Trading Up 2.1 %

NASDAQ:COIN opened at $280.22 on Tuesday. The firm has a market capitalization of $70.15 billion, a P/E ratio of 47.82 and a beta of 3.61. The business has a 50 day simple moving average of $284.78 and a 200 day simple moving average of $237.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 12-month low of $137.13 and a 12-month high of $349.75.

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.