Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Paradigm Operations LP

Paradigm Operations LP lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,128,033 shares of the cryptocurrency exchange’s stock after selling 387,563 shares during the period. Coinbase Global makes up 100.0% of Paradigm Operations LP’s portfolio, making the stock its biggest position. Paradigm Operations LP owned approximately 1.65% of Coinbase Global worth $1,024,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of COIN. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $50,000. Finally, BNP Paribas bought a new position in shares of Coinbase Global during the fourth quarter worth approximately $50,000. 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 7,614 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This trade represents a 42.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,742 shares of company stock worth $25,758,259 in the last three months. 17.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays increased their price objective on Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Monday. Bank of America lowered their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Piper Sandler raised their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 price objective on shares of Coinbase Global in a research note on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.75.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $256.90 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a fifty day moving average of $187.93 and a 200-day moving average of $243.41. The stock has a market capitalization of $65.22 billion, a price-to-earnings ratio of 27.04 and a beta of 3.62. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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). The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.