Nemes Rush Group LLC Trims Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Nemes Rush Group LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 11.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 598 shares of the cryptocurrency exchange’s stock after selling 76 shares during the quarter. Nemes Rush Group LLC’s holdings in Coinbase Global were worth $148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in COIN. The Manufacturers Life Insurance Company grew its holdings in Coinbase Global by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after acquiring an additional 186 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Coinbase Global by 97.1% in the 3rd quarter. Townsquare Capital LLC now owns 4,738 shares of the cryptocurrency exchange’s stock worth $844,000 after purchasing an additional 2,334 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Coinbase Global by 481.7% during the third quarter. Benjamin Edwards Inc. now owns 11,687 shares of the cryptocurrency exchange’s stock valued at $2,082,000 after purchasing an additional 9,678 shares in the last quarter. Concentric Capital Strategies LP increased its holdings in Coinbase Global by 78.7% during the third quarter. Concentric Capital Strategies LP now owns 17,244 shares of the cryptocurrency exchange’s stock valued at $3,072,000 after buying an additional 7,596 shares during the period. Finally, Holocene Advisors LP bought a new position in Coinbase Global in the third quarter worth approximately $38,535,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,609 shares of company stock worth $61,331,908. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $174.52 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company’s 50 day moving average is $234.50 and its 200 day moving average is $242.97. The company has a market cap of $44.31 billion, a PE ratio of 18.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of analyst reports. JMP Securities lifted their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Bank of America cut their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

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.