Parcion Private Wealth LLC Has $66.64 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Parcion Private Wealth LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 268,385 shares of the cryptocurrency exchange’s stock after selling 10,129 shares during the period. Coinbase Global comprises about 5.1% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 4th largest holding. Parcion Private Wealth LLC’s holdings in Coinbase Global were worth $66,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COIN. Banco Santander S.A. lifted its position in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global in the third quarter worth about $29,756,000. Lindbrook Capital LLC lifted its position in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Wellington Management Group LLP grew its position in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after buying an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 2.3 %

COIN opened at $258.67 on Thursday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The stock has a market capitalization of $64.76 billion, a price-to-earnings ratio of 27.23 and a beta of 3.61. The company has a 50-day simple moving average of $278.39 and a 200 day simple moving average of $239.35.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts predict that Coinbase Global, Inc. will post 4.56 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $144,786.76. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,386,983.38. This trade represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 336,143 shares of company stock valued at $97,842,603. 23.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COIN shares. Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday. HC Wainwright raised their price target on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Monness Crespi & Hardt increased their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.94.

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.