Nemes Rush Group LLC Sells 76 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Nemes Rush Group LLC reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 598 shares of the cryptocurrency exchange’s stock after selling 76 shares during the quarter. Nemes Rush Group LLC’s holdings in Coinbase Global were worth $148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC boosted its position in shares of Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COIN shares. JMP Securities lifted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group boosted their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Bank of America dropped their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group assumed 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. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $174.52 on Wednesday. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 18.37 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average price of $234.50 and a 200-day moving average price of $242.97. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,609 shares of company stock worth $61,331,908. Insiders own 23.43% 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.