Parallel Advisors LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,967 shares of the cryptocurrency exchange’s stock after selling 1,418 shares during the period. Parallel Advisors LLC’s holdings in Coinbase Global were worth $516,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Barrett & Company Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $33,000. Signature Resources Capital Management LLC acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $39,000. Harbor Investment Advisory LLC grew its holdings in shares of Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares during the period. Finally, Coston McIsaac & Partners acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $52,000. 68.84% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on COIN shares. Wedbush increased their target price on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. HC Wainwright raised their price objective on Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Barclays raised their price objective on Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a report on Monday, May 6th. Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $214.67.
Check Out Our Latest Research Report on Coinbase Global
Insider Activity
In other news, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 465,233 shares of company stock valued at $106,055,266. Insiders own 23.43% of the company’s stock.
Coinbase Global Stock Performance
Shares of COIN stock opened at $225.92 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $231.22 and a two-hundred day moving average of $185.16. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a market cap of $55.48 billion, a P/E ratio of 45.09 and a beta of 3.46.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.
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.
See Also
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