Gerber LLC Lowers Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Gerber LLC reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,517 shares of the cryptocurrency exchange’s stock after selling 87 shares during the period. Coinbase Global accounts for 1.0% of Gerber LLC’s investment portfolio, making the stock its 16th largest holding. Gerber LLC’s holdings in Coinbase Global were worth $1,370,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $409,919,000. Charles Schwab Investment Management Inc. increased its holdings in Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after buying an additional 15,954 shares during the period. Proficio Capital Partners LLC boosted its holdings in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Finally, Ribbit Management Company LLC grew its holdings in Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after acquiring an additional 17,650 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 $3,114,162.15. This trade represents a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,455 shares of company stock valued at $60,955,968 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $191.73 on Thursday. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a market cap of $48.68 billion, a price-to-earnings ratio of 20.18 and a beta of 3.66. The firm’s 50-day moving average is $258.42 and its 200-day moving average is $241.08. 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 released its quarterly earnings results 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%. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Piper Sandler raised their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $307.89.

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.