Johnson Investment Counsel Inc. Reduces Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Johnson Investment Counsel Inc. trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,169 shares of the cryptocurrency exchange’s stock after selling 1,940 shares during the period. Johnson Investment Counsel Inc.’s holdings in Coinbase Global were worth $4,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COIN. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global during the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the period. Brown Brothers Harriman & Co. lifted its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the 4th quarter valued at about $50,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent research reports. Bank of America lowered their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. Finally, Mizuho reduced their price objective on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $311.21.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief financial officer now owns 124,470 shares of the company’s stock, valued at approximately $37,341,000. The trade was a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 17.6 %

COIN opened at $179.23 on Tuesday. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The stock has a market capitalization of $45.50 billion, a price-to-earnings ratio of 18.87 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $260.68 and a 200-day moving average price of $241.57.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Company 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.