Stevens Capital Management LP Sells 15,655 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Stevens Capital Management LP decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 87.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,175 shares of the cryptocurrency exchange's stock after selling 15,655 shares during the quarter. Stevens Capital Management LP's holdings in Coinbase Global were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COIN. Prospera Financial Services Inc lifted its position in Coinbase Global by 3.6% in the third quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange's stock valued at $353,000 after acquiring an additional 68 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at about $809,000. Charles Schwab Investment Management Inc. boosted its position in shares of Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange's stock valued at $163,752,000 after purchasing an additional 52,856 shares during the period. Nwam LLC grew its stake in Coinbase Global by 4.8% during the 3rd quarter. Nwam LLC now owns 6,868 shares of the cryptocurrency exchange's stock worth $1,224,000 after buying an additional 314 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Coinbase Global by 11.0% during the third quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange's stock worth $2,513,000 after buying an additional 1,393 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

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Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at $104,226.90. The trade was a 95.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,609 shares of company stock worth $61,331,908. Insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded down $4.49 during trading on Thursday, reaching $189.46. 2,711,418 shares of the company's stock were exchanged, compared to its average volume of 9,597,711. The firm's 50-day moving average price is $243.66 and its 200 day moving average price is $241.88. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a market cap of $48.10 billion, a P/E ratio of 19.97 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.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a "neutral" rating and a $195.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a "buy" rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. HC Wainwright restated a "buy" rating and set a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Mizuho cut their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Seven investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.72.

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.