DeDora Capital Inc. Sells 79 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

DeDora Capital Inc. reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,456 shares of the cryptocurrency exchange’s stock after selling 79 shares during the period. DeDora Capital Inc.’s holdings in Coinbase Global were worth $362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Banco Santander S.A. lifted its holdings in 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 acquiring an additional 16,737 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global during the third quarter worth about $29,756,000. Lindbrook Capital LLC lifted its holdings in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction 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 trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at $3,386,983.38. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 386,798 shares of company stock worth $114,707,944. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of several recent analyst reports. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. Monness Crespi & Hardt lifted their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays lifted their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, JMP Securities lifted their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $301.17.

Coinbase Global Price Performance

NASDAQ:COIN opened at $274.31 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $280.97 and its 200 day simple moving average is $238.16. The company has a market cap of $68.67 billion, a P/E ratio of 46.81 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.

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 14.81% and a net margin of 29.76%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Coinbase Global 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.