Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.4% during the 1st quarter, HoldingsChannel reports. The fund owned 1,698 shares of the cryptocurrency exchange’s stock after selling 241 shares during the quarter. Focus Financial Network Inc.’s holdings in Coinbase Global were worth $292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Geode Capital Management LLC grew its position in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares during the period. Norges Bank purchased a new position in Coinbase Global in the fourth quarter worth approximately $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the fourth quarter worth $372,450,000. Finally, Northern Trust Corp boosted its position in shares of Coinbase Global by 20.3% during the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after buying an additional 218,400 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $242.71 on Friday. The business’s 50 day simple moving average is $221.16 and its 200-day simple moving average is $241.85. The firm has a market capitalization of $61.62 billion, a price-to-earnings ratio of 25.55 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on COIN. William Blair assumed coverage on Coinbase Global in a research report on Wednesday. They set an “outperform” rating for the company. Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Compass Point upgraded Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective on the stock in a research note on Monday, May 12th. Rosenblatt Securities restated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, May 12th. Finally, Cantor Fitzgerald started coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.10.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $16,505,971.56. This trade represents a 10.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,717 shares of company stock valued at $49,363,601 in the last ninety days. Insiders own 17.65% of the company’s stock.

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.