Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 56.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,674 shares of the cryptocurrency exchange’s stock after selling 21,921 shares during the quarter. Carnegie Investment Counsel’s holdings in Coinbase Global were worth $4,140,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $409,919,000. Charles Schwab Investment Management Inc. grew its position in Coinbase Global by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC grew its position in Coinbase Global by 4.7% during the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after purchasing an additional 17,650 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock valued at $102,613,277 in the last quarter. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 4.9 %

Coinbase Global stock opened at $295.48 on Friday. The firm has a market cap of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The firm has a fifty day moving average price of $291.21 and a two-hundred day moving average price of $231.24.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on COIN. Barclays lifted their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $282.83.

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.