Ancora Advisors LLC Sells 200 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Ancora Advisors LLC reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 808 shares of the cryptocurrency exchange’s stock after selling 200 shares during the quarter. Ancora Advisors LLC’s holdings in Coinbase Global were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Geode Capital Management LLC grew its position in Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after purchasing an additional 127,075 shares during the last quarter. Norges Bank bought a new stake in Coinbase Global during the 4th quarter valued at about $536,484,000. Groupama Asset Managment purchased a new position in Coinbase Global in the fourth quarter worth about $372,450,000. Finally, Northern Trust Corp lifted its stake in shares of Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after buying an additional 218,400 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $197.32 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The stock’s 50-day simple moving average is $188.01 and its 200-day simple moving average is $243.21. The company has a market capitalization of $50.09 billion, a price-to-earnings ratio of 20.77 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last posted 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%. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the sale, the insider now owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now owns 114,866 shares of the company’s stock, valued at $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,742 shares of company stock worth $27,626,259. Insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. The Goldman Sachs Group started coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target for the company. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price objective on the stock. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $285.95.

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.