Aigen Investment Management LP Lowers Position in Coinbase Global, Inc. (NASDAQ:COIN)

Aigen Investment Management LP cut its position in Coinbase Global, Inc. (NASDAQ:COIN) by 63.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,658 shares of the cryptocurrency exchange’s stock after selling 6,312 shares during the quarter. Aigen Investment Management LP’s holdings in Coinbase Global were worth $636,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Barrett & Company Inc. acquired a new position in Coinbase Global in the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global in the 4th quarter worth approximately $33,000. Signature Resources Capital Management LLC acquired a new position in Coinbase Global in the 4th quarter worth approximately $39,000. Harbor Investment Advisory LLC increased its holdings in Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after buying an additional 100 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in Coinbase Global in the 4th quarter worth approximately $52,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $230.01 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $56.48 billion, a P/E ratio of 46.21 and a beta of 3.46. The company has a fifty day moving average of $232.90 and a 200-day moving average of $178.81. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. JPMorgan Chase & Co. upped their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Oppenheimer increased their target price on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Sanford C. Bernstein increased their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $214.67.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 219,490 shares in the company, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 470,563 shares of company stock worth $104,873,137. Insiders own 33.16% of the company’s stock.

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.