Van ECK Associates Corp lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,596 shares of the cryptocurrency exchange's stock after selling 64,192 shares during the period. Van ECK Associates Corp owned approximately 0.05% of Coinbase Global worth $33,420,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 acquiring an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. grew 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 valued at $45,000 after acquiring an additional 204 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 68.84% of the company's stock.
Several analysts have issued reports on COIN shares. Needham & Company LLC reissued a "buy" rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a report on Friday. Keefe, Bruyette & Woods dropped their price objective on Coinbase Global from $275.00 to $255.00 and set a "market perform" rating for the company in a research note on Monday, January 13th. Finally, JMP Securities boosted their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a "market outperform" rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $301.17.
Check Out Our Latest Analysis on COIN
In other news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company's stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 386,798 shares of company stock worth $114,707,944 over the last 90 days. Company insiders own 23.43% of the company's stock.
Shares of NASDAQ COIN traded down $23.80 during trading hours on Friday, hitting $274.31. 19,208,533 shares of the company traded hands, compared to its average volume of 7,607,109. The stock has a market capitalization of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61. The company's 50 day moving average price is $280.97 and its 200 day moving average price is $238.16. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.
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.
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