Ninepoint Partners LP Has $2.80 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Ninepoint Partners LP trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 27.9% during the fourth quarter, Holdings Channel reports. The firm owned 16,110 shares of the cryptocurrency exchange’s stock after selling 6,239 shares during the quarter. Coinbase Global comprises about 0.3% of Ninepoint Partners LP’s holdings, making the stock its 13th largest position. Ninepoint Partners LP’s holdings in Coinbase Global were worth $2,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COIN. Barrett & Company Inc. bought a new stake in Coinbase Global in the 4th quarter valued at about $26,000. Ancora Advisors LLC increased its position in Coinbase Global by 144.0% in the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in Coinbase Global in the 2nd quarter valued at about $31,000. AlphaMark Advisors LLC bought a new stake in Coinbase Global in the 4th quarter valued at about $33,000. Finally, Bessemer Group Inc. increased its position in Coinbase Global by 100.0% in the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock valued at $36,000 after buying an additional 500 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Barclays boosted their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Bank of America boosted their price objective on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Oppenheimer boosted their price objective on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Wedbush boosted their price objective on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group raised Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.43.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the sale, the insider now owns 61,665 shares in the company, valued at $7,462,698.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the sale, the insider now owns 61,665 shares in the company, valued at $7,462,698.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the sale, the director now owns 4,662 shares in the company, valued at approximately $558,181.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 590,978 shares of company stock worth $103,440,000. Insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock traded down $2.18 during trading on Friday, hitting $215.90. The stock had a trading volume of 6,469,260 shares, compared to its average volume of 13,882,433. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $223.31 and its two-hundred day moving average is $154.63. The stock has a market cap of $52.31 billion, a price-to-earnings ratio of 824.44 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the prior year, the business earned ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 2.43 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.