Federated Hermes Inc. Sells 41,424 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Federated Hermes Inc. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 21.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,918 shares of the cryptocurrency exchange's stock after selling 41,424 shares during the period. Federated Hermes Inc. owned approximately 0.06% of Coinbase Global worth $37,225,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Coinbase Global by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange's stock worth $1,854,000 after purchasing an additional 186 shares during the period. Janus Henderson Group PLC raised its position in shares of Coinbase Global by 36.8% during the 3rd quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange's stock valued at $2,767,000 after buying an additional 4,177 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Coinbase Global during the 3rd quarter worth $450,000. Quantinno Capital Management LP grew its position in Coinbase Global by 5.6% in the third quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange's stock worth $659,000 after acquiring an additional 195 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Coinbase Global by 45.4% in the third quarter. Stifel Financial Corp now owns 43,512 shares of the cryptocurrency exchange's stock valued at $7,753,000 after acquiring an additional 13,591 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Barclays cut their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research note on Monday. The Goldman Sachs Group began coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 target price on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $298.74.

Coinbase Global Stock Performance

COIN stock traded up $2.15 on Friday, hitting $171.77. The company had a trading volume of 3,724,426 shares, compared to its average volume of 9,755,290. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The stock has a market cap of $43.61 billion, a price-to-earnings ratio of 18.13 and a beta of 3.65. The stock's 50-day simple moving average is $212.12 and its 200 day simple moving average is $241.90.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate 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 expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $3,114,162.15. This trade represents a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 20,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares of the company's stock, valued at $37,341,000. This trade represents a 13.84 % 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. Insiders own 23.43% of the company's stock.

About Coinbase Global

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.