World Equity Group Inc. Sells 250 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

World Equity Group Inc. trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 16.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,310 shares of the cryptocurrency exchange’s stock after selling 250 shares during the period. World Equity Group Inc.’s holdings in Coinbase Global were worth $325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Coinbase Global in the third quarter valued at about $26,665,000. Assenagon Asset Management S.A. boosted its stake in shares of Coinbase Global by 36.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after purchasing an additional 952 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Coinbase Global by 6.0% in the 3rd quarter. Ballentine Partners LLC now owns 3,313 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 189 shares during the last quarter. Forsta AP Fonden grew its position in shares of Coinbase Global by 15.2% during the 3rd quarter. Forsta AP Fonden now owns 39,500 shares of the cryptocurrency exchange’s stock worth $7,038,000 after buying an additional 5,200 shares during the period. Finally, PFG Investments LLC raised its stake in shares of Coinbase Global by 65.2% during the third quarter. PFG Investments LLC now owns 1,900 shares of the cryptocurrency exchange’s stock worth $339,000 after buying an additional 750 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN opened at $227.07 on Tuesday. The company has a market capitalization of $57.65 billion, a price-to-earnings ratio of 23.90 and a beta of 3.61. The business’s 50-day moving average price is $273.99 and its two-hundred day moving average price is $240.78. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

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

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,091 shares of company stock worth $64,162,116 over the last ninety days. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday. JMP Securities increased their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Bank of America boosted their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

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.