World Equity Group Inc. Sells 250 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

World Equity Group Inc. decreased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 16.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,310 shares of the cryptocurrency exchange’s stock after selling 250 shares during the quarter. World Equity Group Inc.’s holdings in Coinbase Global were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of COIN. International Assets Investment Management LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth approximately $26,665,000. Assenagon Asset Management S.A. boosted its position in Coinbase Global by 36.2% during the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock worth $638,000 after purchasing an additional 952 shares during the period. Ballentine Partners LLC increased its holdings in shares of Coinbase Global by 6.0% in the third quarter. Ballentine Partners LLC now owns 3,313 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 189 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of Coinbase Global by 15.2% in the third quarter. Forsta AP Fonden now owns 39,500 shares of the cryptocurrency exchange’s stock valued at $7,038,000 after purchasing an additional 5,200 shares during the last quarter. Finally, PFG Investments LLC raised its position in shares of Coinbase Global by 65.2% in the third quarter. PFG Investments LLC now owns 1,900 shares of the cryptocurrency exchange’s stock valued at $339,000 after purchasing an additional 750 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COIN shares. HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday. Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Mizuho reduced their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $306.17.

Coinbase Global Stock Performance

COIN opened at $227.07 on Tuesday. The firm has a market cap of $57.65 billion, a P/E ratio of 23.90 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The business’s fifty day moving average is $273.99 and its 200-day moving average is $240.78.

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, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,386,983.38. The trade was a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $144,786.76. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,091 shares of company stock worth $64,162,116 over the last 90 days. 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.