Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 27.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 974,543 shares of the cryptocurrency exchange’s stock after selling 367,496 shares during the period. Price T Rowe Associates Inc. MD owned 0.40% of Coinbase Global worth $258,372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Mutual Advisors LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $241,000. Raymond James & Associates raised its position in shares of Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $283,000. Schechter Investment Advisors LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $392,000. Finally, Blue Trust Inc. raised its position in shares of Coinbase Global by 902.6% during the 4th quarter. Blue Trust Inc. now owns 1,524 shares of the cryptocurrency exchange’s stock worth $265,000 after acquiring an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $11.41 during trading on Friday, reaching $242.93. The company’s stock had a trading volume of 7,917,446 shares, compared to its average volume of 7,802,415. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The company has a market capitalization of $59.66 billion, a P/E ratio of 48.49 and a beta of 3.40. The business has a 50 day moving average price of $235.30 and a 200-day moving average price of $211.87.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating 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. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.95 EPS for the current year.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the transaction, the chief operating officer now owns 213,851 shares in the company, valued at $45,977,965. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at $45,977,965. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $58,878,978 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Sanford C. Bernstein lifted their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Canaccord Genuity Group lifted their price target on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Bank of America raised Coinbase Global from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Mizuho lifted their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Finally, Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $237.50.

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.