Federated Hermes Inc. Sells 20,071 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Federated Hermes Inc. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 33.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,762 shares of the cryptocurrency exchange’s stock after selling 20,071 shares during the quarter. Federated Hermes Inc.’s holdings in Coinbase Global were worth $6,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barrett & Company Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $26,000. AlphaMark Advisors LLC bought a new position in Coinbase Global during the fourth quarter valued at $33,000. Harbor Investment Advisory LLC raised its stake in shares of Coinbase Global by 68.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after acquiring an additional 100 shares during the period. Coston McIsaac & Partners bought a new stake in shares of Coinbase Global in the 4th quarter worth about $52,000. Finally, Steph & Co. grew its holdings in Coinbase Global by 100.0% during the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 150 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COIN. The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. Oppenheimer increased their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup boosted their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $165.43.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $224.37 on Thursday. The company has a market capitalization of $54.36 billion, a PE ratio of 831.00 and a beta of 3.41. The company has a 50-day simple moving average of $229.46 and a two-hundred day simple moving average of $159.37. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the previous year, the firm earned ($2.46) EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the sale, the chief operating officer now owns 233,142 shares of the company’s stock, valued at approximately $30,147,592.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total transaction of $193,965.00. Following the completion of the transaction, the chief operating officer now directly owns 233,142 shares of the company’s stock, valued at approximately $30,147,592.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 515,828 shares of company stock valued at $95,846,182. Corporate insiders own 33.16% of the company’s stock.

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.