BluePointe Capital Management LLC Sells 428 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

BluePointe Capital Management LLC decreased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 14.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,576 shares of the cryptocurrency exchange’s stock after selling 428 shares during the period. BluePointe Capital Management LLC’s holdings in Coinbase Global were worth $640,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Mizuho cut their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. HC Wainwright reissued a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Finally, Canaccord Genuity Group lifted their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $322.78.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of Coinbase Global 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 sale, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This trade represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last three months. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $189.75 on Thursday. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The stock’s 50-day moving average is $250.03 and its two-hundred day moving average is $240.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $48.17 billion, a price-to-earnings ratio of 19.97 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.