Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,694 shares of the cryptocurrency exchange’s stock after selling 260 shares during the quarter. Coinbase Global accounts for about 0.8% of Lazari Capital Management Inc.’s holdings, making the stock its 26th biggest position. Lazari Capital Management Inc.’s holdings in Coinbase Global were worth $1,338,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COIN. Barrett & Company Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth $26,000. AlphaMark Advisors LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth $33,000. Signature Resources Capital Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth $39,000. Harbor Investment Advisory LLC raised its stake in shares of Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after buying an additional 100 shares during the last quarter. Finally, Coston McIsaac & Partners acquired a new position in shares of Coinbase Global during the 4th quarter worth $52,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 1.3 %

Shares of NASDAQ:COIN traded down $3.14 during trading on Friday, reaching $244.50. 7,146,478 shares of the stock were exchanged, compared to its average volume of 8,893,147. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. Coinbase Global, Inc. has a 12-month low of $50.93 and a 12-month high of $283.48. The firm has a market cap of $60.04 billion, a price-to-earnings ratio of 48.80 and a beta of 3.44. The firm’s 50-day moving average price is $229.14 and its 200 day moving average price is $195.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 5th. Wedbush lifted their price objective on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Finally, Piper Sandler lifted their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $214.67.

Insider Transactions at Coinbase Global

In related news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the transaction, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. In the last quarter, insiders sold 377,803 shares of company stock worth $86,110,620. 23.43% of the stock is currently owned by company insiders.

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.