Nwam LLC Cuts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Nwam LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 25.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,144 shares of the cryptocurrency exchange’s stock after selling 1,724 shares during the quarter. Nwam LLC’s holdings in Coinbase Global were worth $1,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the third quarter worth $409,919,000. Geode Capital Management LLC increased its holdings in shares of 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 valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Azora Capital LP increased its holdings in shares of Coinbase Global by 214.1% in the 3rd 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 in the last quarter. Holocene Advisors LP purchased a new position in shares of Coinbase Global in the 3rd quarter valued at about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the third quarter valued at about $29,756,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s 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 directly owns 526 shares of the company’s stock, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at $21,218,413.97. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,069 shares of company stock worth $66,488,684 in the last 90 days. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Down 2.2 %

COIN stock opened at $208.37 on Friday. The stock has a market capitalization of $52.90 billion, a P/E ratio of 21.93 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a 50 day moving average price of $269.37 and a two-hundred day moving average price of $240.48.

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 return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COIN shares. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Mizuho dropped their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $311.56.

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.