Stevens Capital Management LP Has $540,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Stevens Capital Management LP reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 87.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,175 shares of the cryptocurrency exchange’s stock after selling 15,655 shares during the period. Stevens Capital Management LP’s holdings in Coinbase Global were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Blueprint Investment Partners LLC acquired a new stake in shares of Coinbase Global during the 4th quarter valued at about $516,000. KLP Kapitalforvaltning AS bought a new position in Coinbase Global during the 4th quarter valued at about $16,164,000. Sei Investments Co. lifted its holdings in Coinbase Global by 44.9% during the 4th quarter. Sei Investments Co. now owns 20,938 shares of the cryptocurrency exchange’s stock valued at $5,200,000 after purchasing an additional 6,488 shares during the last quarter. Plancorp LLC bought a new position in Coinbase Global during the 4th quarter valued at about $236,000. Finally, HUB Investment Partners LLC bought a new position in Coinbase Global during the 4th quarter valued at about $584,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Down 0.3 %

Shares of NASDAQ COIN opened at $189.86 on Monday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66. The company’s 50 day simple moving average is $247.26 and its 200 day simple moving average is $241.52.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. 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 stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, 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 three months, insiders have sold 208,034 shares of company stock worth $57,835,408. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on COIN. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Rosenblatt Securities began coverage on shares of Coinbase Global in a report on Friday, March 7th. They set a “buy” rating and a $305.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Finally, The Goldman Sachs Group began coverage on shares of Coinbase Global in a research note on Thursday. They issued a “neutral” rating and a $195.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.72.

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.