Carnegie Investment Counsel Reduces Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Carnegie Investment Counsel reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 56.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,674 shares of the cryptocurrency exchange's stock after selling 21,921 shares during the quarter. Carnegie Investment Counsel's holdings in Coinbase Global were worth $4,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $32,000. Brown Brothers Harriman & Co. raised its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after buying an additional 204 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock worth $48,000 after buying an additional 181 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $55,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COIN shares. Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 target price for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $282.83.

Coinbase Global Trading Up 4.9 %

NASDAQ:COIN traded up $13.85 on Friday, reaching $295.48. 11,250,894 shares of the company's stock were exchanged, compared to its average volume of 6,726,179. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The business has a fifty day moving average of $291.21 and a 200-day moving average of $231.26. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted ($0.01) earnings per share. Coinbase Global's revenue was up 78.8% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief financial officer now owns 124,470 shares of the company's stock, valued at $37,341,000. The trade was a 13.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 347,033 shares of company stock valued at $102,613,277. 23.43% of the stock is owned by company 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.