Greenland Capital Management LP Sells 4,946 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Greenland Capital Management LP decreased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 81.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,095 shares of the cryptocurrency exchange's stock after selling 4,946 shares during the period. Greenland Capital Management LP's holdings in Coinbase Global were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COIN. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after buying an additional 106 shares during the period. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the 4th quarter valued at $50,000. Finally, Bogart Wealth LLC lifted its position in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock worth $52,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $142,540.74. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,767 shares of company stock worth $48,326,134 over the last quarter. 23.43% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. Mizuho reduced 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. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price for the company. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. HC Wainwright reissued a "buy" rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $298.74.

Coinbase Global Stock Up 3.5 %

Shares of NASDAQ:COIN traded up $5.88 during mid-day trading on Friday, hitting $175.50. 7,745,585 shares of the company traded hands, compared to its average volume of 9,778,077. 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, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The firm's 50 day simple moving average is $210.02 and its 200 day simple moving average is $242.39. The firm has a market cap of $44.56 billion, a P/E ratio of 18.47 and a beta of 3.65.

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

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.