Headlands Technologies LLC Sells 3,770 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Headlands Technologies LLC cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 52.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,420 shares of the cryptocurrency exchange’s stock after selling 3,770 shares during the period. Headlands Technologies LLC’s holdings in Coinbase Global were worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Truist Financial Corp bought a new stake in Coinbase Global in the 4th quarter valued at $2,890,000. Kovack Advisors Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $434,000. State of New Jersey Common Pension Fund D raised its stake in shares of Coinbase Global by 1.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 98,975 shares of the cryptocurrency exchange’s stock valued at $17,214,000 after buying an additional 1,870 shares in the last quarter. Stevens Capital Management LP raised its stake in shares of Coinbase Global by 185.5% in the 4th quarter. Stevens Capital Management LP now owns 9,532 shares of the cryptocurrency exchange’s stock valued at $1,658,000 after buying an additional 6,193 shares in the last quarter. Finally, Syon Capital LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $289,000. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. HC Wainwright increased their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Citigroup increased their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Barclays increased their target price on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. Finally, Mizuho increased their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $165.43.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,624 shares of the firm’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 sale, the chief accounting officer now owns 29,236 shares in the company, valued at $4,933,575. The disclosure for this sale can be found here. Insiders have sold 532,208 shares of company stock valued at $99,652,403 in the last 90 days. 33.16% of the stock is owned by insiders.

Coinbase Global Trading Up 5.7 %

Coinbase Global stock traded up $12.71 during midday trading on Friday, hitting $236.32. 6,044,874 shares of the stock were exchanged, compared to its average volume of 8,468,571. The company has a fifty day simple moving average of $231.74 and a two-hundred day simple moving average of $160.91. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The stock has a market capitalization of $57.25 billion, a PE ratio of 875.26 and a beta of 3.41. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

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

About Coinbase Global

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.