Simplicity Solutions LLC Sells 317 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Simplicity Solutions LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,391 shares of the cryptocurrency exchange’s stock after selling 317 shares during the quarter. Simplicity Solutions LLC’s holdings in Coinbase Global were worth $590,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Raymond James & Associates boosted its stake in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after purchasing an additional 9,564 shares in the last quarter. Mariner LLC boosted its position in Coinbase Global by 5.4% during the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after buying an additional 4,259 shares during the period. Itau Unibanco Holding S.A. boosted its position in 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 buying an additional 125 shares during the period. Oak Thistle LLC acquired a new position in Coinbase Global in the 4th quarter valued at approximately $1,035,000. Finally, Barclays PLC raised its stake in shares of Coinbase Global by 41.5% during the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after acquiring an additional 118,670 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Down 2.3 %

COIN opened at $213.78 on Thursday. 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 firm has a market capitalization of $51.79 billion, a P/E ratio of 791.78 and a beta of 3.41. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The company’s 50-day moving average is $221.60 and its 200 day moving average is $154.18.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period last year, the company posted ($2.46) earnings per share. Coinbase Global’s quarterly revenue was up 51.6% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wedbush increased their price objective on Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 16th. HC Wainwright increased their price target on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Citigroup lifted their price objective on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $163.70.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $247.54, for a total value of $1,039,668.00. Following the sale, the chief financial officer now owns 192,622 shares of the company’s stock, valued at $47,681,649.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now directly owns 192,622 shares of the company’s stock, valued at approximately $47,681,649.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 590,978 shares of company stock worth $103,440,000. 33.16% of the stock is owned by company insiders.

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.