BI Asset Management Fondsmaeglerselskab A S Sells 13,204 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 59.2% during the 4th quarter, HoldingsChannel reports. The fund owned 9,114 shares of the cryptocurrency exchange’s stock after selling 13,204 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Coinbase Global were worth $2,263,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Coinbase Global by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 408,170 shares of the cryptocurrency exchange’s stock valued at $101,392,000 after buying an additional 7,834 shares during the period. First Trust Advisors LP lifted its holdings in Coinbase Global by 33.8% during the 4th quarter. First Trust Advisors LP now owns 162,635 shares of the cryptocurrency exchange’s stock worth $40,382,000 after buying an additional 41,115 shares during the period. Emory University lifted its stake in shares of Coinbase Global by 1.5% in the fourth quarter. Emory University now owns 4,376 shares of the cryptocurrency exchange’s stock worth $1,087,000 after acquiring an additional 64 shares during the period. GeoWealth Management LLC increased its position in shares of Coinbase Global by 20.2% during the fourth quarter. GeoWealth Management LLC now owns 423 shares of the cryptocurrency exchange’s stock worth $105,000 after buying an additional 71 shares during the period. Finally, Strategic Investment Solutions Inc. IL lifted its stake in shares of Coinbase Global by 1,280.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,035 shares of the cryptocurrency exchange’s stock valued at $257,000 after purchasing an additional 960 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 0.0 %

COIN opened at $175.00 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $44.43 billion, a PE ratio of 18.42 and a beta of 3.65. The business’s fifty day simple moving average is $198.17 and its 200 day simple moving average is $242.51. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,611 shares of company stock valued at $34,376,005 in the last quarter. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, Mizuho dropped their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $297.95.

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.