Baader Bank Aktiengesellschaft Sells 8,891 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Baader Bank Aktiengesellschaft lowered its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 49.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,208 shares of the cryptocurrency exchange's stock after selling 8,891 shares during the period. Baader Bank Aktiengesellschaft's holdings in Coinbase Global were worth $2,286,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $409,919,000. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Azora Capital LP lifted its position in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock valued at $57,525,000 after acquiring an additional 220,078 shares during the period. Holocene Advisors LP acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $29,756,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Mizuho upgraded shares of Coinbase Global from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $250.00 to $290.00 in a report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Oppenheimer lowered their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Finally, JMP Securities restated a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.06.

Coinbase Global Stock Performance

NASDAQ COIN traded up $12.84 during trading on Thursday, hitting $303.84. 6,378,086 shares of the company's stock traded hands, compared to its average volume of 8,225,343. The stock has a market capitalization of $76.07 billion, a price-to-earnings ratio of 51.78 and a beta of 3.59. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50 day moving average of $288.15 and a 200-day moving average of $235.21.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company posted ($0.01) earnings per share. The company's quarterly revenue was up 78.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares of the company's stock, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Company 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.