Coinbase Global, Inc. (NASDAQ:COIN) Holdings Lessened by SVB Capital Management LLC

SVB Capital Management LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 97.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,832 shares of the cryptocurrency exchange’s stock after selling 404,536 shares during the quarter. Coinbase Global makes up about 3.2% of SVB Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. SVB Capital Management LLC’s holdings in Coinbase Global were worth $2,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $50,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Rosenblatt Securities assumed coverage on shares of Coinbase Global in a report on Friday. They issued a “buy” rating and a $305.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Piper Sandler raised their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $311.21.

Coinbase Global Trading Up 1.5 %

COIN stock opened at $217.45 on Monday. The firm’s fifty day simple moving average is $262.21 and its two-hundred day simple moving average is $241.70. The stock has a market capitalization of $55.21 billion, a price-to-earnings ratio of 22.89 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. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

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