Guggenheim Capital LLC Sells 283 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Guggenheim Capital LLC lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 857 shares of the cryptocurrency exchange’s stock after selling 283 shares during the period. Guggenheim Capital LLC’s holdings in Coinbase Global were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC increased its holdings in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,922,072.67. This trade represents a 59.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 20,000 shares of Coinbase Global stock in a transaction dated 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 transaction, 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. In the last ninety days, insiders sold 168,970 shares of company stock valued at $38,672,615. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Rosenblatt Securities decreased their price target on shares of Coinbase Global from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price target on the stock. Finally, Compass Point reissued a “sell” rating and issued a $180.00 price target on shares of Coinbase Global in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.90.

Coinbase Global Trading Down 2.1 %

NASDAQ:COIN opened at $205.27 on Tuesday. The company has a 50-day moving average price of $190.84 and a 200-day moving average price of $243.62. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $52.11 billion, a price-to-earnings ratio of 21.61 and a beta of 3.65.

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

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.