Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Parcion Private Wealth LLC

Parcion Private Wealth LLC lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 268,385 shares of the cryptocurrency exchange's stock after selling 10,129 shares during the period. Coinbase Global accounts for about 5.1% of Parcion Private Wealth LLC's holdings, making the stock its 4th biggest position. Parcion Private Wealth LLC owned approximately 0.11% of Coinbase Global worth $66,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banco Santander S.A. boosted its stake in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange's stock valued at $26,531,000 after buying an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global during the 3rd quarter worth $29,756,000. Lindbrook Capital LLC increased its holdings in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock valued at $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after purchasing an additional 16,363 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Coinbase Global by 237.5% in the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange's stock valued at $5,834,000 after purchasing an additional 23,040 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. JMP Securities raised their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Piper Sandler boosted their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Monness Crespi & Hardt upped their target price on Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group cut their price target on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $304.50.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $161,639.80. The trade was a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 334,306 shares of company stock worth $97,300,651. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Trading Down 8.2 %

Shares of Coinbase Global stock traded down $21.09 during trading hours on Friday, hitting $235.50. The company's stock had a trading volume of 14,481,161 shares, compared to its average volume of 8,694,347. The business has a fifty day moving average of $277.26 and a 200 day moving average of $239.47. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a market capitalization of $58.96 billion, a PE ratio of 24.79 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.