Tower Research Capital LLC TRC Sells 2,370 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Tower Research Capital LLC TRC cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,309 shares of the cryptocurrency exchange's stock after selling 2,370 shares during the quarter. Tower Research Capital LLC TRC's holdings in Coinbase Global were worth $822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $3,866,000. Wilmington Savings Fund Society FSB bought a new position in Coinbase Global in the third quarter worth approximately $94,000. Principal Financial Group Inc. grew its stake in Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after acquiring an additional 36,843 shares during the period. Versant Capital Management Inc increased its holdings in shares of Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock valued at $74,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Coinbase Global by 25.9% during the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock worth $258,000 after purchasing an additional 214 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on COIN shares. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Oppenheimer reiterated an "outperform" rating on shares of Coinbase Global in a report on Monday, February 10th. Benchmark initiated coverage on shares of Coinbase Global in a report on Wednesday. They issued a "buy" rating and a $252.00 target price on the stock. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Finally, Barclays lowered their price objective on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $295.65.

Coinbase Global Stock Up 2.8 %

Coinbase Global stock opened at $209.64 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $53.22 billion, a P/E ratio of 22.07 and a beta of 3.65. The firm has a 50 day moving average price of $191.91 and a 200-day moving average price of $242.87. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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 return on equity of 20.64% and a net margin of 39.34%. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at approximately $22,973,200. This represents a 6.19 % 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, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business'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 transaction of $2,246,891.40. Following the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,970 shares of company stock worth $38,672,615 over the last quarter. Corporate 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.

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