Gerber LLC Lowers Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

by · The Cerbat Gem

Gerber LLC lessened its position in Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,517 shares of the cryptocurrency exchange’s stock after selling 87 shares during the quarter. Coinbase Global comprises 1.0% of Gerber LLC’s holdings, making the stock its 16th largest position. Gerber LLC’s holdings in Coinbase Global were worth $1,370,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Banco Santander S.A. boosted its position in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the third quarter worth approximately $29,756,000. Wellington Management Group LLP increased its stake 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 during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $252,000. Finally, Virtu Financial LLC acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $3,866,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 over the last ninety days. 23.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Barclays raised their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. HC Wainwright reiterated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Mizuho lowered their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.89.

Get Our Latest Research Report on Coinbase Global

Coinbase Global Stock Up 0.0 %

COIN stock opened at $191.73 on Thursday. The business has a 50-day simple moving average of $258.42 and a 200 day simple moving average of $241.08. The company has a market cap of $48.68 billion, a PE ratio of 20.18 and a beta of 3.66. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week 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.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

About Coinbase Global

(Free Report)

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.

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