Vinva Investment Management Ltd Cuts Position in Coinbase Global, Inc. (NASDAQ:COIN)

Vinva Investment Management Ltd trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 33.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,235 shares of the cryptocurrency exchange’s stock after selling 1,122 shares during the quarter. Vinva Investment Management Ltd’s holdings in Coinbase Global were worth $571,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter worth approximately $25,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $50,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on COIN shares. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Canaccord Genuity Group upped their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $189.86 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a fifty day moving average price of $247.26 and a 200 day moving average price of $240.47. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a market cap of $48.20 billion, a PE ratio of 19.99 and a beta of 3.66.

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

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.