Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Private Capital Advisors Inc.

Private Capital Advisors Inc. reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 93.5% during the 4th quarter, Holdings Channel reports. The fund owned 2,607 shares of the cryptocurrency exchange’s stock after selling 37,681 shares during the quarter. Private Capital Advisors Inc.’s holdings in Coinbase Global were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Coinbase Global during the 4th quarter valued at about $46,000. Pictet Asset Management SA acquired a new position in Coinbase Global in the 4th quarter valued at approximately $5,332,000. TD Asset Management Inc. grew its stake in Coinbase Global by 149.5% in the fourth quarter. TD Asset Management Inc. now owns 22,612 shares of the cryptocurrency exchange’s stock valued at $5,707,000 after purchasing an additional 13,548 shares in the last quarter. Paradigm Financial Partners LLC acquired a new position in Coinbase Global in the fourth quarter worth approximately $203,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Coinbase Global during the 4th quarter valued at $1,921,000. 39.01% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Paul Grewal sold 1,207 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $173.87, for a total value of $209,861.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

COIN stock traded up $4.78 during mid-day trading on Thursday, reaching $58.50. 58,268,854 shares of the company traded hands, compared to its average volume of 6,592,021. The firm’s 50 day moving average price is $153.72 and its 200 day moving average price is $219.37. Coinbase Global, Inc. has a fifty-two week low of $40.83 and a fifty-two week high of $368.90. The stock has a market cap of $12.84 billion and a price-to-earnings ratio of 3.95. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.53.

Coinbase Global (NASDAQ:COINGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). Coinbase Global had a return on equity of 77.65% and a net margin of 46.23%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.48 billion. The business’s quarterly revenue was down 35.2% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 1.53 EPS for the current fiscal year.

A number of equities analysts have recently commented on COIN shares. Citigroup dropped their price objective on Coinbase Global from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, March 22nd. Zacks Investment Research raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. JPMorgan Chase & Co. cut their price objective on Coinbase Global from $345.00 to $296.00 and set an “overweight” rating for the company in a report on Wednesday, February 23rd. Piper Sandler reduced their price objective on Coinbase Global from $440.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Finally, Compass Point lowered their price target on shares of Coinbase Global from $325.00 to $200.00 and set a “neutral” rating for the company in a report on Monday, February 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Buy” and a consensus target price of $250.89.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

Further Reading

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINGet Rating).

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.