Golden State Equity Partners Trims Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Golden State Equity Partners reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,690 shares of the cryptocurrency exchange’s stock after selling 145 shares during the quarter. Golden State Equity Partners’ holdings in Coinbase Global were worth $468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp purchased a new stake in Coinbase Global in the 4th quarter worth about $2,890,000. Kovack Advisors Inc. purchased a new position in shares of Coinbase Global during the fourth quarter worth approximately $434,000. State of New Jersey Common Pension Fund D increased its position in shares of Coinbase Global by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 98,975 shares of the cryptocurrency exchange’s stock worth $17,214,000 after acquiring an additional 1,870 shares during the period. Stevens Capital Management LP increased its position in shares of Coinbase Global by 185.5% during the fourth quarter. Stevens Capital Management LP now owns 9,532 shares of the cryptocurrency exchange’s stock worth $1,658,000 after acquiring an additional 6,193 shares during the period. Finally, Syon Capital LLC purchased a new position in shares of Coinbase Global during the fourth quarter worth approximately $289,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the completion of the sale, the director now directly owns 6,072 shares in the company, valued at $798,893.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $129.31, for a total transaction of $193,965.00. Following the completion of the transaction, the chief operating officer now owns 233,142 shares of the company’s stock, valued at $30,147,592.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the transaction, the director now directly owns 6,072 shares of the company’s stock, valued at approximately $798,893.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 532,208 shares of company stock worth $99,652,403. Company insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $236.32 on Friday. The company has a market cap of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month 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 company has a 50 day moving average of $231.74 and a two-hundred day moving average of $161.48.

Coinbase Global (NASDAQ:COIN) last announced 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. The company had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm earned ($2.46) earnings per share. As a group, analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Mizuho raised 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. Keefe, Bruyette & Woods raised 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. Barclays raised their target price on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. Needham & Company LLC raised their target price on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Bank of America increased their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $165.43.

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.