CloudAlpha Capital Management Limited Hong Kong Sells 69,377 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

CloudAlpha Capital Management Limited Hong Kong lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 41.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,633 shares of the cryptocurrency exchange’s stock after selling 69,377 shares during the quarter. Coinbase Global comprises approximately 1.7% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 9th biggest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Coinbase Global were worth $24,242,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Callan Family Office LLC acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $436,000. EagleClaw Capital Managment LLC acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $221,000. Candriam S.C.A. increased its stake in shares of Coinbase Global by 20.0% during the fourth quarter. Candriam S.C.A. now owns 12,603 shares of the cryptocurrency exchange’s stock valued at $3,129,000 after acquiring an additional 2,102 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in shares of Coinbase Global by 47.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 64,811 shares of the cryptocurrency exchange’s stock valued at $16,376,000 after acquiring an additional 20,805 shares during the period. Finally, SP Asset Management LLC acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $255,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COIN. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” 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 report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. JMP Securities raised their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Barclays raised their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $311.56.

Coinbase Global Stock Down 3.7 %

COIN stock opened at $214.17 on Friday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $54.37 billion, a price-to-earnings ratio of 22.54 and a beta of 3.66. The company has a 50 day moving average of $263.18 and a two-hundred day moving average of $241.06.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,455 shares of company stock worth $60,955,968 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

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.