Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Duality Advisers LP

Duality Advisers LP trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 31.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,879 shares of the cryptocurrency exchange’s stock after selling 5,790 shares during the period. Duality Advisers LP’s holdings in Coinbase Global were worth $3,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its holdings in Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares in the last quarter. Paragon Capital Management Ltd increased its stake in shares of Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares in the last quarter. Raymond James & Associates increased its stake in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares in the last quarter. KBC Group NV increased its stake in shares of Coinbase Global by 26.2% during the fourth quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock worth $3,793,000 after purchasing an additional 4,524 shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $302,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.2 %

Shares of Coinbase Global stock traded up $6.85 during trading hours on Friday, hitting $221.48. The company had a trading volume of 3,766,745 shares, compared to its average volume of 11,470,495. The company’s 50-day moving average is $227.73 and its two-hundred day moving average is $205.56. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $54.39 billion, a P/E ratio of 43.67 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Analysts anticipate that Coinbase Global, Inc. will post 5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COIN. Sanford C. Bernstein boosted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. HC Wainwright reiterated a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a report on Tuesday, June 18th. Barclays decreased their target price on shares of Coinbase Global from $204.00 to $196.00 and set an “underweight” rating on the stock in a report on Wednesday. Singular Research reissued a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $212.83.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 4,200 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the completion of the sale, the chief financial officer now owns 192,622 shares in the company, valued at approximately $47,681,649.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Alesia J. Haas sold 4,200 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now owns 192,622 shares in the company, valued at approximately $47,681,649.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Insiders sold a total of 314,136 shares of company stock worth $68,855,464 in the last 90 days. Company insiders own 23.43% of the company’s stock.

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.