Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 71.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,704 shares of the cryptocurrency exchange’s stock after selling 11,589 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Coinbase Global were worth $1,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Barrett & Company Inc. acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global during the 4th quarter worth $27,000. Concord Wealth Partners grew its stake in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Coinbase Global during the first quarter valued at $32,000. Finally, AlphaMark Advisors LLC bought a new stake in shares of Coinbase Global during the fourth quarter valued at about $33,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 1.3 %

Shares of Coinbase Global stock traded down $2.80 during trading on Wednesday, hitting $217.17. 2,169,136 shares of the stock traded hands, compared to its average volume of 11,545,484. The stock has a market cap of $53.33 billion, a P/E ratio of 43.05 and a beta of 3.40. The company has a fifty day moving average price of $227.83 and a two-hundred day moving average price of $205.39. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Equities research analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on COIN. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and raised their target price for the company from $110.00 to $217.00 in a research note on Friday, May 17th. Mizuho boosted their target price on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Canaccord Genuity Group lifted their price target on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $215.50.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $232.24, for a total transaction of $1,857,920.00. Following the completion of the sale, the chief operating officer now owns 197,971 shares of the company’s stock, valued at $45,976,785.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 314,136 shares of company stock worth $68,855,464. Corporate 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.