AlphaQuest LLC Sells 6,202 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

AlphaQuest LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 92.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496 shares of the cryptocurrency exchange’s stock after selling 6,202 shares during the period. AlphaQuest LLC’s holdings in Coinbase Global were worth $123,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $409,919,000. Proficio Capital Partners LLC grew its position in shares of 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. Geode Capital Management LLC grew its position in shares of Coinbase Global by 10.1% in the third 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 during the last quarter. Azora Capital LP grew its position in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Coinbase Global in the third quarter valued at about $38,535,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Down 4.1 %

Shares of COIN opened at $181.14 on Wednesday. The company has a market capitalization of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The business’s 50 day simple moving average is $251.44 and its 200-day simple moving average is $241.13.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS 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%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COIN. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Mizuho decreased their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $322.78.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,455 shares of company stock valued at $60,955,968. 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.