Blueshift Asset Management LLC Cuts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Blueshift Asset Management LLC reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 61.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,262 shares of the cryptocurrency exchange's stock after selling 11,590 shares during the period. Coinbase Global makes up 0.7% of Blueshift Asset Management LLC's investment portfolio, making the stock its 24th largest holding. Blueshift Asset Management LLC's holdings in Coinbase Global were worth $1,803,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of COIN. Victory Capital Management Inc. increased its holdings in Coinbase Global by 6.7% during the 3rd quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange's stock worth $11,552,000 after purchasing an additional 4,076 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Coinbase Global by 5.6% during the third quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange's stock worth $1,240,000 after buying an additional 367 shares in the last quarter. Empowered Funds LLC raised its position in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after buying an additional 43 shares during the last quarter. Quest Partners LLC lifted its stake in Coinbase Global by 2,155.2% during the 3rd quarter. Quest Partners LLC now owns 6,698 shares of the cryptocurrency exchange's stock valued at $1,193,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in Coinbase Global by 43.0% during the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange's stock valued at $2,942,000 after acquiring an additional 4,965 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Oppenheimer restated an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Mizuho decreased their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Barclays boosted their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $314.72.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $13.18 during trading on Monday, hitting $203.04. 9,458,351 shares of the company were exchanged, compared to its average volume of 9,666,954. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The stock has a 50 day moving average of $246.30 and a 200 day moving average of $241.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $51.55 billion, a PE ratio of 21.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company's stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 208,034 shares of company stock valued at $57,835,408. 23.43% of the stock is currently owned by corporate insiders.

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.