Compass Ion Advisors LLC Lowers Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Compass Ion Advisors LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,163 shares of the cryptocurrency exchange’s stock after selling 57 shares during the quarter. Compass Ion Advisors LLC’s holdings in Coinbase Global were worth $1,104,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after purchasing an additional 408,046 shares during the period. Morgan Stanley raised its position in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after acquiring an additional 511,397 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $202,936,000. Northern Trust Corp grew its position in shares of Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after acquiring an additional 37,019 shares during the period. Finally, a16z Perennial Management L.P. purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $147,646,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the sale, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 360,021 shares of company stock valued at $80,655,822. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on COIN shares. Oppenheimer boosted their price objective on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. HC Wainwright restated a “buy” rating and set a $315.00 price target on shares of Coinbase Global in a research report on Tuesday, June 18th. Piper Sandler boosted their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Finally, Wedbush lifted their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Price Performance

NASDAQ:COIN opened at $222.23 on Monday. The company has a market capitalization of $54.57 billion, a P/E ratio of 44.36 and a beta of 3.40. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 52 week low of $68.15 and a 52 week high of $283.48. The stock’s fifty day moving average is $227.70 and its two-hundred day moving average is $202.20.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Equities analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

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.