Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Touchstone Capital Inc.

Touchstone Capital Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,965 shares of the cryptocurrency exchange’s stock after selling 1,618 shares during the quarter. Coinbase Global comprises approximately 9.2% of Touchstone Capital Inc.’s investment portfolio, making the stock its 5th largest position. Touchstone Capital Inc.’s holdings in Coinbase Global were worth $9,733,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its stake in shares of Coinbase Global by 3.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock worth $282,000 after acquiring an additional 125 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Coinbase Global by 10.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after purchasing an additional 125 shares during the period. Windle Wealth LLC grew its holdings in shares of Coinbase Global by 2.5% during the 3rd quarter. Windle Wealth LLC now owns 5,236 shares of the cryptocurrency exchange’s stock worth $393,000 after purchasing an additional 126 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Coinbase Global by 3.1% during the 2nd quarter. D.A. Davidson & CO. now owns 4,571 shares of the cryptocurrency exchange’s stock worth $327,000 after purchasing an additional 136 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Coinbase Global by 3.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,030 shares of the cryptocurrency exchange’s stock worth $378,000 after purchasing an additional 145 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on COIN. Needham & Company LLC raised their target price on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 8th. The Goldman Sachs Group raised Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Keefe, Bruyette & Woods raised Coinbase Global from an “underperform” rating to a “market perform” rating and increased their price target for the company from $93.00 to $160.00 in a research report on Friday, February 16th. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Finally, TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $141.30.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 759,107 shares of company stock worth $117,220,321. 33.16% of the stock is currently owned by insiders.

Coinbase Global Stock Up 3.3 %

Coinbase Global stock opened at $265.12 on Friday. The stock’s 50 day moving average price is $188.26 and its 200 day moving average price is $137.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $64.23 billion, a PE ratio of 981.93 and a beta of 3.36. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.46) earnings per share. On average, sell-side analysts predict that Coinbase Global, Inc. will post 1.68 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.