Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Compass Ion Advisors LLC

Compass Ion Advisors LLC lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 7.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,863 shares of the cryptocurrency exchange’s stock after selling 302 shares during the quarter. Compass Ion Advisors LLC’s holdings in Coinbase Global were worth $959,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of COIN. Geode Capital Management LLC boosted its stake in shares of Coinbase Global by 10.1% in 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 purchasing an additional 314,388 shares during the period. Clear Street Derivatives LLC acquired a new position in Coinbase Global in the 3rd quarter worth $409,919,000. Charles Schwab Investment Management Inc. boosted its position in Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after buying an additional 15,954 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Coinbase Global by 30,664.4% during the fourth 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. Finally, Ribbit Management Company LLC increased its position in shares of Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after acquiring an additional 17,650 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction 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. The trade was a 42.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $181.14 on Wednesday. The stock has a market capitalization of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. The firm’s 50-day moving average price is $251.44 and its two-hundred day moving average price is $241.13. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. 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 announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Sanford C. Bernstein initiated coverage on shares of Coinbase Global in a research note on Monday. They issued an “outperform” rating and a $310.00 price target for the company. Bank of America reduced their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Barclays boosted their target price 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. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

Coinbase Global Company 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.