Golden State Equity Partners Lowers Position in Coinbase Global, Inc. (NASDAQ:COIN)

Golden State Equity Partners cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,690 shares of the cryptocurrency exchange’s stock after selling 145 shares during the quarter. Golden State Equity Partners’ holdings in Coinbase Global were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at approximately $201,000. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Coinbase Global by 7.0% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock valued at $1,193,000 after acquiring an additional 1,043 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Coinbase Global by 5.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange’s stock valued at $2,515,000 after acquiring an additional 1,800 shares during the last quarter. Xponance Inc. increased its position in shares of Coinbase Global by 5.6% during the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after acquiring an additional 333 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after acquiring an additional 125 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 5.7 %

NASDAQ COIN opened at $236.32 on Friday. The stock’s 50-day simple moving average is $231.74 and its two-hundred day simple moving average is $161.48. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate 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 for the quarter was up 51.6% on a year-over-year basis. During the same quarter last year, the business posted ($2.46) earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the sale, the director now directly owns 6,072 shares of the company’s stock, valued at approximately $798,893.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares in the company, valued at $12,585,661.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 532,208 shares of company stock worth $99,652,403. Company insiders own 33.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COIN shares. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a report on Thursday, March 28th. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Piper Sandler raised their price target on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.43.

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.