Coinbase Global, Inc. (NASDAQ:COIN) Holdings Lowered by Ninepoint Partners LP

Ninepoint Partners LP trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,110 shares of the cryptocurrency exchange’s stock after selling 6,239 shares during the period. Coinbase Global comprises about 0.3% of Ninepoint Partners LP’s holdings, making the stock its 13th biggest holding. Ninepoint Partners LP’s holdings in Coinbase Global were worth $2,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Barrett & Company Inc. purchased a new stake in Coinbase Global in the 4th quarter worth about $26,000. Ancora Advisors LLC lifted its stake in Coinbase Global by 144.0% in the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 435 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in Coinbase Global in the 2nd quarter worth about $31,000. AlphaMark Advisors LLC purchased a new stake in Coinbase Global in the 4th quarter worth about $33,000. Finally, Bessemer Group Inc. lifted its stake in Coinbase Global by 100.0% in the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock worth $36,000 after acquiring an additional 500 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COIN. Piper Sandler raised their price target on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Mizuho raised their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. HC Wainwright raised their price target on Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Oppenheimer raised their price target on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Barclays raised their price target on Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $165.43.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Emilie Choi sold 700 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the transaction, the chief operating officer now owns 225,142 shares in the company, valued at approximately $29,333,751.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total value of $297,700.00. Following the transaction, the director now owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The disclosure for this sale can be found here. In the last quarter, insiders have sold 590,978 shares of company stock valued at $103,440,000. 33.16% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

COIN traded down $2.18 during midday trading on Friday, reaching $215.90. The company’s stock had a trading volume of 6,469,260 shares, compared to its average volume of 13,882,433. The stock has a market cap of $52.31 billion, a P/E ratio of 824.44 and a beta of 3.41. The company has a fifty day simple moving average of $223.31 and a 200 day simple moving average of $154.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS. Research analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Coinbase Global 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.