Fernwood Investment Management LLC Lowers Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Fernwood Investment Management LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 10.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,165 shares of the cryptocurrency exchange’s stock after selling 134 shares during the quarter. Fernwood Investment Management LLC’s holdings in Coinbase Global were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Coinbase Global by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after acquiring an additional 186 shares during the period. Janus Henderson Group PLC boosted its holdings in Coinbase Global by 36.8% in the 3rd quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange’s stock valued at $2,767,000 after purchasing an additional 4,177 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Coinbase Global during the 3rd quarter worth approximately $450,000. Quantinno Capital Management LP raised its stake in shares of Coinbase Global by 5.6% during the 3rd quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange’s stock worth $659,000 after buying an additional 195 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Coinbase Global by 45.4% in the 3rd quarter. Stifel Financial Corp now owns 43,512 shares of the cryptocurrency exchange’s stock valued at $7,753,000 after buying an additional 13,591 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN stock opened at $151.47 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $38.46 billion, a PE ratio of 15.94 and a beta of 3.65. The company’s fifty day simple moving average is $219.19 and its 200-day simple moving average is $242.32. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,767 shares of company stock valued at $48,326,134. 23.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Cantor Fitzgerald started coverage on Coinbase Global in a research note on Tuesday. They set an “overweight” rating and a $245.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.74.

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.