Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Westside Investment Management Inc.

Westside Investment Management Inc. trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 36.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306 shares of the cryptocurrency exchange’s stock after selling 175 shares during the quarter. Westside Investment Management Inc.’s holdings in Coinbase Global were worth $81,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Salem Investment Counselors Inc. boosted its holdings in Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after purchasing an additional 114 shares during the last quarter. Paragon Capital Management Ltd raised its stake in shares of Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after acquiring an additional 85,573 shares during the period. Raymond James & Associates raised its stake in shares of Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after acquiring an additional 9,564 shares during the period. KBC Group NV raised its stake in shares of Coinbase Global by 26.2% in the 4th quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock valued at $3,793,000 after acquiring an additional 4,524 shares during the period. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $302,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $232.24, for a total value of $1,857,920.00. Following the completion of the transaction, the chief operating officer now owns 197,971 shares in the company, valued at approximately $45,976,785.04. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at approximately $943,122.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Emilie Choi sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $232.24, for a total transaction of $1,857,920.00. Following the completion of the transaction, the chief operating officer now owns 197,971 shares of the company’s stock, valued at approximately $45,976,785.04. The disclosure for this sale can be found here. Insiders sold 330,516 shares of company stock worth $73,051,856 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 1.1 %

NASDAQ COIN opened at $224.94 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The stock has a market capitalization of $55.24 billion, a PE ratio of 44.90 and a beta of 3.40. The firm has a 50 day moving average of $227.68 and a two-hundred day moving average of $203.47.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. As a group, research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COIN. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Mizuho boosted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Wedbush boosted their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $315.00 target price on shares of Coinbase Global in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Company 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.