Nwam LLC Lowers Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Nwam LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 25.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,144 shares of the cryptocurrency exchange’s stock after selling 1,724 shares during the period. Nwam LLC’s holdings in Coinbase Global were worth $1,277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. increased its holdings in Coinbase Global by 36.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after purchasing an additional 952 shares during the last quarter. abrdn plc boosted its position in shares of Coinbase Global by 625.1% during the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock worth $6,198,000 after buying an additional 29,990 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Coinbase Global by 104.4% during the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock worth $351,000 after buying an additional 1,005 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of Coinbase Global by 16,928.6% in the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock valued at $637,000 after buying an additional 3,555 shares in the last quarter. Finally, Golden State Equity Partners raised its holdings in shares of Coinbase Global by 2.5% in the 3rd quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange’s stock valued at $514,000 after buying an additional 69 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 2.2 %

Shares of NASDAQ COIN opened at $208.37 on Friday. The stock has a market cap of $52.90 billion, a PE ratio of 21.93 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The business has a 50-day moving average price of $269.37 and a 200 day moving average price of $240.48. 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 posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on COIN. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Barclays upped 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 note on Friday, February 14th. Piper Sandler increased their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, JMP Securities raised their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $311.56.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the sale, the insider now owns 69,407 shares of the company’s stock, valued at $21,218,413.97. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,069 shares of company stock worth $66,488,684 in the last 90 days. Company insiders own 23.43% of the company’s stock.

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.