IHT Wealth Management LLC Sells 1,690 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

by · The Cerbat Gem

IHT Wealth Management LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 18.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,340 shares of the cryptocurrency exchange’s stock after selling 1,690 shares during the quarter. IHT Wealth Management LLC’s holdings in Coinbase Global were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in COIN. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares in the last quarter. Geode Capital Management LLC raised its position in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after purchasing an additional 127,075 shares during the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global during the fourth quarter valued at about $536,484,000. Groupama Asset Managment bought a new stake in shares of Coinbase Global during the fourth quarter worth about $372,450,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after buying an additional 15,954 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 526 shares of the company’s stock, valued at approximately $144,786.76. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,611 shares of company stock worth $34,376,005 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COIN shares. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. JMP Securities lowered their price objective on Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Finally, Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.95.

Read Our Latest Research Report on Coinbase Global

Coinbase Global Stock Performance

Shares of COIN stock opened at $190.00 on Wednesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The firm has a market capitalization of $48.24 billion, a PE ratio of 20.00 and a beta of 3.65. The firm has a fifty day simple moving average of $196.01 and a two-hundred day simple moving average of $242.14. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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%. Analysts forecast 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.

See Also

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).