Ballentine Partners LLC Sells 65 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Ballentine Partners LLC lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,398 shares of the cryptocurrency exchange’s stock after selling 65 shares during the period. Ballentine Partners LLC’s holdings in Coinbase Global were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after buying an additional 40 shares during the last quarter. IPG Investment Advisors LLC raised its holdings in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after purchasing an additional 45 shares during the last quarter. Vivaldi Capital Management LP lifted its position in shares of Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after purchasing an additional 47 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock worth $2,746,000 after purchasing an additional 55 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Coinbase Global by 2.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange’s stock worth $653,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

COIN opened at $394.01 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The business has a fifty day simple moving average of $285.95 and a 200 day simple moving average of $247.02. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $398.50. The company has a market capitalization of $100.03 billion, a PE ratio of 73.78, a price-to-earnings-growth ratio of 29.42 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $2.53 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 12,931 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total transaction of $3,456,326.99. Following the completion of the sale, the insider directly owned 84,280 shares in the company, valued at approximately $22,527,201.20. This represents a 13.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 336,265 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. The trade was a 99.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 670,915 shares of company stock valued at $219,399,582. 17.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, May 9th. Argus started coverage on Coinbase Global in a research report on Monday. They set a “buy” rating and a $400.00 price target for the company. Compass Point upgraded Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target for the company in a research note on Monday, May 12th. Piper Sandler upped their price objective on Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, Citigroup reissued a “buy” rating on shares of Coinbase Global in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $305.71.

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.