EULAV Asset Management Sells 14,993 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

EULAV Asset Management decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 20.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,007 shares of the cryptocurrency exchange’s stock after selling 14,993 shares during the quarter. EULAV Asset Management’s holdings in Coinbase Global were worth $14,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Banco Santander S.A. raised its position in Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global during the 3rd quarter valued at about $29,756,000. Lindbrook Capital LLC lifted its position in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after buying an additional 6,963 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after buying an additional 16,363 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 401,798 shares of company stock valued at $119,826,444. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $274.49 on Friday. Coinbase Global, Inc. has a 1 year low of $125.81 and a 1 year high of $349.75. The stock has a market capitalization of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61. The company’s 50-day moving average is $285.22 and its 200 day moving average is $236.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Analyst Ratings Changes

Several research analysts have commented on COIN shares. Oppenheimer decreased their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Piper Sandler boosted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.06.

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.