Sloy Dahl & Holst LLC Sells 1,292 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Sloy Dahl & Holst LLC cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,878 shares of the cryptocurrency exchange’s stock after selling 1,292 shares during the period. Coinbase Global makes up 1.7% of Sloy Dahl & Holst LLC’s investment portfolio, making the stock its 5th largest position. Sloy Dahl & Holst LLC’s holdings in Coinbase Global were worth $8,501,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in Coinbase Global by 19.8% during the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock valued at $824,587,000 after buying an additional 2,110,196 shares in the last quarter. Norges Bank acquired a new position in Coinbase Global during the fourth quarter valued at approximately $50,254,000. Morgan Stanley lifted its position in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Coinbase Global by 142.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Coinbase Global by 320.1% during the second quarter. Northern Trust Corp now owns 563,011 shares of the cryptocurrency exchange’s stock valued at $26,472,000 after buying an additional 428,994 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on COIN shares. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Bank of America boosted their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Canaccord Genuity Group reissued a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research report on Thursday, March 28th. Finally, Mizuho boosted their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $163.70.

Coinbase Global Stock Performance

COIN stock traded down $6.73 during trading on Wednesday, hitting $212.10. 3,065,499 shares of the company’s stock traded hands, compared to its average volume of 13,950,412. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The stock has a fifty day moving average price of $219.76 and a two-hundred day moving average price of $153.77. The stock has a market capitalization of $51.39 billion, a price-to-earnings ratio of 810.48 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $256.19, for a total transaction of $4,196,392.20. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $1,194,357.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $256.19, for a total transaction of $4,196,392.20. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $1,194,357.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The disclosure for this sale can be found here. Insiders sold a total of 562,203 shares of company stock worth $96,530,482 over the last 90 days. Insiders own 33.16% of the company’s stock.

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.