Cwm LLC Sells 584 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cwm LLC reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,953 shares of the cryptocurrency exchange’s stock after selling 584 shares during the period. Cwm LLC’s holdings in Coinbase Global were worth $861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after acquiring an additional 81 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Coinbase Global by 33.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 6,037 shares of the cryptocurrency exchange’s stock worth $1,050,000 after acquiring an additional 1,513 shares during the last quarter. Planning Directions Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth $566,000. abrdn plc purchased a new stake in shares of Coinbase Global in the fourth quarter worth $351,000. Finally, Greenleaf Trust purchased a new stake in shares of Coinbase Global in the fourth quarter worth $274,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COIN shares. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Citigroup raised their target price on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Wedbush raised their target price on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Bank of America raised their target price on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their target price on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $165.43.

Coinbase Global Stock Up 5.7 %

Shares of COIN opened at $236.32 on Monday. The business’s 50 day moving average is $231.74 and its 200 day moving average is $162.07. The company has a market capitalization of $57.25 billion, a PE ratio of 875.26 and a beta of 3.41. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company earned ($2.46) EPS. Research analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Emilie Choi sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the sale, the chief financial officer now directly owns 219,490 shares in the company, valued at $50,142,490.50. The disclosure for this sale can be found here. Insiders have sold 532,208 shares of company stock valued at $99,652,403 in the last ninety days. Corporate insiders own 33.16% of the company’s stock.

About Coinbase Global

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.