Blueshift Asset Management LLC Sells 11,590 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Blueshift Asset Management LLC trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 61.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,262 shares of the cryptocurrency exchange’s stock after selling 11,590 shares during the quarter. Coinbase Global makes up about 0.7% of Blueshift Asset Management LLC’s portfolio, making the stock its 24th biggest position. Blueshift Asset Management LLC’s holdings in Coinbase Global were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. grew its stake in shares of Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares during the period. Empowered Funds LLC lifted its position in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the period. Finally, Capital Advisors Wealth Management LLC grew its holdings in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 45 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN stock opened at $189.75 on Thursday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The business’s fifty day simple moving average is $250.03 and its 200-day simple moving average is $240.77. 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 $48.17 billion, a PE ratio of 19.97 and a beta of 3.66.

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

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. This represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction that occurred on 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 owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Sanford C. Bernstein initiated coverage on Coinbase Global in a research report on Monday. They set an “outperform” rating and a $310.00 target price for the company. Barclays increased their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $322.78.

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.