Ninepoint Partners LP Lowers Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Ninepoint Partners LP lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,610 shares of the cryptocurrency exchange’s stock after selling 500 shares during the quarter. Coinbase Global accounts for approximately 0.4% of Ninepoint Partners LP’s holdings, making the stock its 25th largest holding. Ninepoint Partners LP’s holdings in Coinbase Global were worth $2,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.2 %

Shares of NASDAQ COIN opened at $183.12 on Friday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a market cap of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66. 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 stock has a fifty day moving average price of $255.08 and a 200 day moving average price of $240.79.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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%. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COIN shares. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. JMP Securities increased their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods increased their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.67.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

About Coinbase Global

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.