Coinbase Global, Inc. (NASDAQ:COIN) Holdings Reduced by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,603 shares of the cryptocurrency exchange’s stock after selling 460 shares during the period. Freestone Capital Holdings LLC’s holdings in Coinbase Global were worth $955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $147,646,000. Charles Schwab Investment Management Inc. lifted its position in shares of Coinbase Global by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after acquiring an additional 37,847 shares in the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $88,015,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 4.9 %

Shares of NASDAQ:COIN traded up $11.40 during trading on Friday, hitting $242.92. 6,177,638 shares of the company’s stock were exchanged, compared to its average volume of 11,364,060. Coinbase Global, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48. The firm has a 50-day moving average price of $234.59 and a two-hundred day moving average price of $210.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market cap of $59.65 billion, a P/E ratio of 47.75 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Equities analysts predict that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total value of $322,500.00. Following the sale, the chief operating officer now owns 213,851 shares of the company’s stock, valued at $45,977,965. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares in the company, valued at $41,901,248.27. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $58,878,978 in the last quarter. 23.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Canaccord Genuity Group upped their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Singular Research restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Mizuho increased their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. HC Wainwright reiterated a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a research note on Tuesday, June 18th. Finally, Wedbush raised their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $237.50.

Coinbase Global 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.