Jacobs Levy Equity Management Inc. Sells 832 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Jacobs Levy Equity Management Inc. lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,696 shares of the cryptocurrency exchange’s stock after selling 832 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Coinbase Global were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. increased its stake in shares of Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC grew its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after buying an additional 40 shares in the last quarter. Yousif Capital Management LLC grew its position in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares in the last quarter. IPG Investment Advisors LLC grew its position in Coinbase Global by 2.0% during the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after buying an additional 45 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its position in Coinbase Global by 1.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange’s stock worth $1,159,000 after buying an additional 54 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COIN. Oppenheimer reduced their price target on Coinbase Global from $279.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a research report on Friday, May 9th. Needham & Company LLC reduced their price target on Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Citigroup reissued a “neutral” rating on shares of Coinbase Global in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $265.20.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 1,952 shares of Coinbase Global stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total value of $488,000.00. Following the transaction, the insider now directly owns 81,773 shares in the company, valued at $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,764 shares of company stock valued at $35,671,592 in the last 90 days. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Trading Up 9.0%

NASDAQ COIN opened at $266.46 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a market cap of $67.65 billion, a price-to-earnings ratio of 28.05 and a beta of 3.62. The business’s fifty day moving average is $191.65 and its 200 day moving average is $244.29.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business earned $2.53 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.