Baillie Gifford & Co. Sells 2,100 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Baillie Gifford & Co. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 16.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,778 shares of the cryptocurrency exchange’s stock after selling 2,100 shares during the period. Baillie Gifford & Co.’s holdings in Coinbase Global were worth $1,875,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mariner LLC grew its holdings in shares of Coinbase Global by 5.4% in the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after acquiring an additional 4,259 shares during the period. Itau Unibanco Holding S.A. lifted its position in Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after purchasing an additional 125 shares in the last quarter. Oak Thistle LLC purchased a new position in Coinbase Global during the fourth quarter valued at $1,035,000. Barclays PLC lifted its position in Coinbase Global by 41.5% during the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after purchasing an additional 118,670 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Coinbase Global by 31.8% during the third quarter. Wellington Management Group LLP now owns 50,925 shares of the cryptocurrency exchange’s stock valued at $3,823,000 after purchasing an additional 12,301 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other news, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $1,194,357.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction on Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 661,539 shares of company stock valued at $109,628,776. 33.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research report on Thursday, March 28th. Citigroup boosted their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, April 3rd. Bank of America boosted their price objective on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday. Finally, Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average target price of $156.65.

Coinbase Global Trading Up 4.8 %

COIN opened at $263.01 on Friday. The stock has a market cap of $63.72 billion, a price-to-earnings ratio of 974.11 and a beta of 3.41. The stock’s 50 day moving average price is $213.33 and its 200-day moving average price is $149.38. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.46) earnings per share. On average, equities analysts forecast that Coinbase Global, Inc. will post 2.1 EPS 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.