Coinbase Global, Inc. (NASDAQ:COIN) Holdings Trimmed by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COINFree Report) by 98.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,160 shares of the cryptocurrency exchange’s stock after selling 61,880 shares during the quarter. BOCHK Asset Management Ltd’s holdings in Coinbase Global were worth $288,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COIN. Robeco Institutional Asset Management B.V. raised its holdings in Coinbase Global by 33.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange’s stock worth $25,729,000 after buying an additional 25,972 shares during the period. R Squared Ltd acquired a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $99,000. Tamar Securities LLC purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $312,000. Perigon Wealth Management LLC boosted its stake in Coinbase Global by 3.8% in the 4th quarter. Perigon Wealth Management LLC now owns 7,761 shares of the cryptocurrency exchange’s stock worth $1,927,000 after purchasing an additional 283 shares during the period. Finally, Nilsine Partners LLC grew its position in Coinbase Global by 2.4% during the 4th quarter. Nilsine Partners LLC now owns 6,910 shares of the cryptocurrency exchange’s stock worth $1,716,000 after purchasing an additional 162 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 1.4 %

Shares of NASDAQ:COIN opened at $281.82 on Wednesday. The stock has a market capitalization of $70.55 billion, a PE ratio of 48.09 and a beta of 3.59. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The firm has a fifty day moving average price of $288.73 and a 200 day moving average price of $234.81. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 377,705 shares of company stock worth $112,792,687. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COIN shares. Needham & Company LLC increased their target price on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $250.00 to $290.00 in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

View Our Latest Analysis on Coinbase Global

Coinbase Global Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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