Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 92.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 496 shares of the cryptocurrency exchange’s stock after selling 6,202 shares during the quarter. AlphaQuest LLC’s holdings in Coinbase Global were worth $123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents 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 the SEC website. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 approximately $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 quarter. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $181.14 on Wednesday. The stock has a fifty day moving average of $251.44 and a 200-day moving average of $241.13. The firm has a market capitalization of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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%. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COIN shares. Mizuho lowered their target price 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. Piper Sandler raised their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Finally, Barclays increased their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.