Coinbase Global, Inc. (NASDAQ:COIN) Holdings Decreased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,076 shares of the cryptocurrency exchange’s stock after selling 103 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Coinbase Global were worth $6,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. NZS Capital LLC bought a new position in Coinbase Global during the 4th quarter worth $7,996,000. Quarry LP grew its stake in shares of Coinbase Global by 234.2% in the fourth quarter. Quarry LP now owns 391 shares of the cryptocurrency exchange’s stock worth $97,000 after purchasing an additional 274 shares in the last quarter. Aquatic Capital Management LLC grew its stake in shares of Coinbase Global by 2.8% in the fourth quarter. Aquatic Capital Management LLC now owns 78,450 shares of the cryptocurrency exchange’s stock worth $19,479,000 after purchasing an additional 2,150 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth $266,000. Finally, Virtus ETF Advisers LLC bought a new position in shares of Coinbase Global in the fourth quarter worth $1,323,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $205.27 on Tuesday. The company’s 50 day moving average price is $190.84 and its 200 day moving average price is $243.62. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a market capitalization of $52.11 billion, a PE ratio of 21.61 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $16,505,971.56. This represents a 10.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 20,000 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.44, for a total transaction of $3,968,800.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $104,379.44. This trade represents a 97.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,970 shares of company stock valued at $38,672,615 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent analyst reports. Barclays decreased their price target 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. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Piper Sandler upped their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $289.90.

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.